Regency Assets Management Limited has successfully divested its 2.65% stake in Julius Berger Nigeria Plc, amounting to N1.54 billion.
Julius Berger made this disclosure in a notice to the Nigerian Exchange Limited (NGX) and the investing public.
As part of this divestment, Regency Assets Management Limited sold 42,404,724 units of shares, equivalent to 2.65% of the issued share capital of Julius Berger.
“Julius Berger Nigeria Plc hereby notifies the Nigerian Exchange Limited and the investing public that Regency Assets Management Limited gave notice of its Cessation as a substantial shareholder by its divestment of 42,404,724 (Forty-Two Million Four Hundred and Four Thousand, Seven Hundred and Twenty-Four) units of shares representing 2.65% of the issued share capital of Julius Berger” Mrs. C. E. Madueke, Company Secretary said.
During the first nine months of 2023, the construction company reported a cost of sales amounting to N272.4 billion, marking an increase from N259.67 billion recorded in the same period of 2022. Concurrently, foreign exchange acquisition losses for the same period in 2023 reached N6.17 billion, compared to N4.63 billion in the first nine months of 2022.
Julius Berger Nigeria experienced a noteworthy 23.8% growth in Profit Before Tax (PBT), reaching N15.1 billion in the first nine months of 2023, compared to N12.16 billion in the corresponding period of 2022. Additionally, the Profit After Tax (PAT) for the same period in 2023 stood at N9 billion, up from N6.96 billion in the first nine months of 2022.
Godstone Estate Ltd emerges as the largest single majority shareholder of Julius Berger, holding 317.89 million shares, equivalent to 19.87% of the issued share capital.
Neptunehill Company Ltd controls 18.22% of the issued shares, while Watertown Energy Ltd holds 160 million shares, constituting 10% of the issued share capital.
