Julius Berger has made their intentions clear to the public on their plan to diversify into agriculture after they declared a downward spiral decrease in their profit margin due to the pandemic. It is worthy to note that the Nigerian market was more to the organization than Europe and Asia combined.
On calculating the construction giants’ tax returns, it was announced that they had a 9% fall in the profit margin, the worst they had seen in four(4) years,
Revenue was down by 9 per cent, A downward spiral from N264.557 Billion to N242.458 Billion, as published by the Nigerian Stock Exchange (NSE) on Wednesday on their unaudited earnings.
As a proactive measure, Julius Berger said in September it would diversify into agro-processing, venturing into a subsector different from its primary construction business in a move informed by “the emerging developments, political, economic and structural in Nigeria and the resultant reforms by the governments.”