Julius Berger Nig Plc (NSE ticker – JBERGER), a household name in the construction sector in Nigeria has disclosed that it is diversifying into Agro-processing, as the company seeks to take advantage of the emerging developments, political, economical, and structural opportunities in Nigeria and the resultant reforms by the Government.
This is according to the corporate action statement released by the firm to the Nigerian Stock Exchange and the investing public on Thursday, signed by C.E Madueke the Company Secretary.
According to the statement, the Board of Julius Berger at its meeting held on September 22, 2020, approved the diversification into Agro-processing.
Julius Berger Nigeria Plc financial performance was strongly impacted in second quarter of 2020 by Covid-19 crisis, as the company reported a loss of over N2.00 billion between April to June, amid a significant drop in revenue.
Julius Berger Nig Plc was incorporated on 18 February 1970. The company is into the business of planning, design, and construction of civil engineering and building works.
It is listed on the Main Board of the Nigerian Stock Exchange under the Construction/Real Estate Sector and Infrastructure/Heavy Construct sub-sector.
The current share price of JBERGER is N15.00 per share. YTD it is down by 24.62%. While in 2 years and five years it has lost 48.86% and 62.50% of its value respectively.