Julius Berger’s stock has experienced a remarkable surge, closing at N130.00 on August 13, 2024, marking a 34.02% increase in just two weeks. This strong upward momentum has been evident since the beginning of August, fueled by sustained buy-side pressure.
On August 13, the company recorded a trading volume of 13.17 million shares, the highest since May 23, 2024, when it reached 17.65 million shares. The stock’s performance has been robust throughout the year, with its price increasing by 150% in 2024 and an impressive 360% over the last year, positioning it as one of the top-performing stocks on the market.
Julius Berger’s share price journey has been marked by consistent gains over recent months, with positive closes from March to June. After a slight dip in July to N97, the stock quickly rebounded in August, continuing its long-term upward trend that began in July 2020 when the price was just N14.85 per share.
The company’s financial performance in the second quarter of 2024 has also contributed to investor confidence. Revenue for the quarter grew by 10.58% year-on-year to N132.8 billion, despite a significant increase in the cost of sales. Pre-tax profits rose by 12.08%, reaching N8.3 billion, though earnings per share (EPS) dropped by 67.50%, reflecting higher expenses reported in the financial statements.
Julius Berger’s total current assets grew by 76.65% year-on-year to N473.55 billion, with cash and cash equivalents seeing a 172.90% increase, reaching N180.9 billion. Following these strong results, the company announced a dividend of N3.00 per share at its annual general meeting on June 21, 2024.
These financial achievements, coupled with the stock’s strong performance, suggest that Julius Berger’s share price may have further growth potential, as it currently trades at 12 times its earnings.