Julius Berger’s share price experienced a significant 34.02% increase as of August 13, 2024, closing at N130.00. This surge, which began at the start of August, reflects a strong bullish trend for the stock.
On August 13, the stock saw a market volume of 13.17 million shares, marking the highest trading volume since May 23, 2024, when it reached 17.65 million shares. The increased buy-side pressure has led to a substantial price rise from the previous month’s closing price of N97.00.
Compared to last year, Julius Berger’s share price has risen by 360% over the past 12 months and 150% in 2024 alone, making it one of the top-performing stocks this year. The company has shown consistent positive price action since March 2024, despite a slight dip in July.
Since July 2020, when the stock was valued at N14.85, Julius Berger has consistently climbed, culminating in the current high of N130.00 per share.
In its second-quarter 2024 report, Julius Berger achieved a revenue increase to N132.8 billion from N120.1 billion the previous year, reflecting a 10.58% growth. Pre-tax profits rose by 12.08% year-on-year to N8.3 billion, despite a 20.25% increase in the cost of sales. However, earnings per share fell by 67.50% to N0.91 due to rising expenses.
The company’s total current assets increased by 76.65% year-over-year to N473.55 billion, with cash and cash equivalents up by 172.90% to N180.9 billion. Additionally, a dividend of N3.00 per 50k share was announced during the annual general meeting on June 21, 2024.
