Julius Berger recorded N3.8bn loss in one year – Sunmonu, Berger Board Chairman
Posted by Factnews | 7 years ago | 2,335 times
Julius Berger Board Chairman, Mr. Mutiu Sunmonu has said that Julius Berger recorded a loss of N3.8 billion in 2016 financial year as a result of the country’s economic recession and the devaluation of the nation’s currency which paralysed most projects last year. This represents a 256.4 percent decline compared to a profit after tax of N2.4 billion gained in 2015.
Sunmonu said this while addressing shareholders at the company’s 47tth company’s Annual General Meeting (AGM) in Abuja.
According to him, “For Nigeria, the past year was one of the economically most difficult in close to three decades. Naira devaluation and a shortage of foreign currency magnified the hardship, making economic turnaround increasingly tough.”
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