Julius Berger closed buying and selling on August 13, 2024, at a share worth of N130.00, persevering with a powerful upward pattern that has gained momentum for the reason that begin of the month.
The inventory recorded a market quantity of 13.17 million shares on the day, the very best since reaching 17.65 million shares on Could 23, 2024.
Because the starting of August 2024, the inventory has been predominantly on the purchase facet, rising by 34.02% from its closing worth in July.
On the finish of July, Julius Berger’s share worth stood at N97, with a market quantity of 8.05 million shares.
Nevertheless, buy-side strain intensified in August, with the inventory already accumulating a market quantity of 13.18 million shares throughout the first two weeks of buying and selling.
The corporate’s share worth is up 360% within the final 12 months and over 150% this 12 months alone, making it one of many best-performing stocks this 12 months.
Julius Berger sustained its share efficiency:
Julius Berger has loved a number of months of beneficial worth motion, closing consecutively within the optimistic territory from March to June earlier than dipping barely in July to N97 from N98 within the earlier month.
Since July 2020, when Julius Berger closed at N14.85 per share, the inventory has remained on an upward trajectory, reaching its highest stage at N130.00 per share on August 13, 2024.
The corporate’s share worth is buying and selling at 12x its earnings, suggesting there may very well be extra room for share worth progress.
Second Quarter Efficiency
Within the second quarter of 2024, Julius Berger reported a income improve to N132.8 billion, up from N120.1 billion in the identical interval the earlier 12 months, marking 10.58% year-on-year progress. Regardless of a 20.25% year-over-year spike in the price of gross sales, the corporate managed to extend its pre-tax income.
In accordance with the launched {financial} statements for Q2, pre-tax income rose by 12.08% year-on-year, from N7.4 billion in 2023 to N8.3 billion in 2024.
Nevertheless, earnings per share (EPS) fell by 67.50% year-on-year, dropping from N2.80 in Q2 2023 to N0.91 in 2024. This decline in EPS is attributed to a rise in sure bills reported within the firm’s {financial} statements.
The corporate’s complete present belongings within the second quarter of 2024 grew by 76.65% year-over-year, rising from N268.07 billion in 2023 to N473.55 billion.
Moreover, money and money equivalents surged by 172.90% year-on-year, growing from N66.3 billion in 2023 to N180.9 billion in Q2 2024.
On the finish of the second quarter, Julius Berger introduced a dividend fee of N3.00 per 50k share throughout its annual basic assembly held on June 21, 2024.
