JULIUS Berger Nigeria Plc has explained to investors that there was no need to float a rights issue at the moment as the company’s shareholders equity has risen to N35 billion.
Speaking at the company’s investor forum 2019 in Lagos, Engr. Dr. Lars Richter, Managing Director, Julius Berger, who was represented by the Finance Director, Martin Brack, said that 2018 was a very successful and pivotal year for Julius Berger, a business year filled with many positive developments and achievements.
Similarly, he told investors that the Company recorded significant progress in its first quarter results, saying it posted revenue of N35.32 billion for the period ended March 2018 compared to N34.15 billion reported for the period ended March 2017. Speaking on the Lagos-Shagamu Expressway, which has seen delays and even work stoppage in the past, due to funding challenges, Richter said since the resumption of work, a steady pace of progress is now the reality.
Source: News Formal (newsformal.com)
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