Finance
Julius Berger Posts N2.344bn Loss in Q2 2020
Julius Berger Reports N2.344bn Loss in Q2 2020
Julius Berger Nigeria Plc reported a revenue decline from N68.859 billion filed in the second quarter of 2019 to N46.142 billion in the second quarter of 2020.
Despite the cost of sales moderating from N52.957 billion in Q2 2019 to N38.186 billion in Q2 2020, the unaudited financial report released through the Nigerian Stock Exchange showed the company gross profit declined to N7.957 billion, down from N15.901 billion filed in the corresponding period of 2019.
Julius Berger’s profit before tax declined from N3.322 billion in Q2 2019 to -N2.602 billion in Q2 2020.
This decline continues despite N258.406 million tax credit as profit after tax dipped to -N2.344 billion in the quarter under review, down from N2.349 billion profit posted in the same period of 2019.