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Julius Berger put operations on hold in the North

News » Business

Julius Berger Nigeria Plc., has disclosed that it has suspended its operations in Northern Nigeria due to the security challenges.

Managing Director of the company, Engineer Wolfing Goetsch, stated this in Abuja at its 42nd Annual General meeting, held at the Shehu Musa Yar’ Adua Centre.

The Chairman of the company, Nurudeen Imam (Retd.), in his address, said that Julius Berger has experienced no serious security incidents in 2011 but nevertheless, cannot ignore the fact that security issues require the company to remain vigilant and that while the Niger Delta Amnesty programme continues to prove effective, Boko Haram activities are an increasing concern.

According to Imam, the company recorded a gross profit of  N34 billion in 2011 compared to the N29 billion garnered in the preceding year.

Revenue from construction contracts alone amounted to N17 billion in 2011 as against the N171 billion recorded in 2010, while dividend of N2.40 per ordinary share would  be paid to shareholders.

He added that the company has diversified its customer base to include clients from the oil and gas sector and  private individuals.

Article credit: Business Newspaper

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Updated 7 Years ago

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