Julius Berger MD promises continuous growth

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In Nigeria
Aug 21st, 2014
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The new managing director of Julius Berger Nigeria Plc, Mr. Detlev Lubasch, has assured that he would sustain the construction company’ s growth. Lubasch succeeded Mr. Wolfgang Goetsch on July 1, 2014.

Lubasch, who has 27 years of experience within Julius Berger in both Nigeria and Germany; said he would dedicate his tenure to continuing the success of Julius Berger.

He said he would implement initiatives that would ensure a strong continuity in the management as well as ensuring that the company’ corporate values including quality, reliability, sustainability and integrity remain at the heart of Julius Berger’s corporate culture.

Goetsch had focused his tenure on strengthening Julius Berger’s organizational structures and developing the Julius Berger Group of companies. Goetsch remains an integral part of the company as he will join the executive management of Julius Berger International and continue to serve within the board of directors of Julius Berger Nigeria Plc as a non-executive director.

Audited report and accounts of Julius Berger for the year ended December 31, 2013 showed that turnover rose marginally from N201.57 billion to N212.74 billion. Profit before tax rose by 31 per cent from N12.34 billion to N16.22 billion. Profit after tax however dropped slightly from N8.19 billion to N8.06 billion. Earnings per share thus stood at N6.72 in 2013 as against N6.83 in 2012.

The construction company distributed N3.24 billion in cash dividends and 120 million ordinary shares of 50 kobo each as bonus shares as returns for the 2013 business year. A breakdown of the dividend indicated that shareholders received a dividend per share of N2.70 and a bonus share of one share for every 10 shares held as at the closure date.

The company recently added 120 million shares to its outstanding shares following the listing of the bonus shares declared by the board of the company. The listing of the bonus shares increased Julius Berger Nigeria’s total issued shares to 1.32 billion ordinary shares of 50 kobo each.

As part of its strategic positioning, Julius Berger has said it would focus on further diversification of its clients and business segments, improve on business development efforts, sustain due diligence and explore opportunities in alternative financing models to improve on its performance.

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