Julius Berger Nigeria PLC has appointed Dr. Mohammed Indimi, OFR, as a Non-Executive Director, as announced on November 8, 2024, in an official statement on the Nigerian Exchange (NGX) platform.
The announcement, signed by the company’s secretary, Mrs. Cecilia Ekanem Madueke, stated that the decision was made at an emergency board meeting on November 7, 2024, and took immediate effect. The Board of Directors expressed strong confidence in Dr. Indimi’s extensive expertise and leadership, highlighting that his contributions are expected to enhance Julius Berger’s strategic direction and drive future growth.
Profile of Dr. Mohammed Indimi
Dr. Mohammed Indimi, OFR, is a prominent Nigerian businessman and philanthropist with a distinguished career in oil and gas and financial services. Honored with several honorary doctorate degrees from Nigerian and international universities, Dr. Indimi is recognized for his entrepreneurial success and philanthropic contributions.
He holds the Nigerian national title of Officer of the Federal Republic (OFR) and the Republic of Niger’s esteemed award, Commandeur dans L’Ordre du Merite du Niger. Alongside his new role at Julius Berger, Dr. Indimi chairs the boards of Oriental Energy Resources Limited and M & W Pump Nigeria Limited and serves as a director at Jaiz Bank PLC.
Julius Berger’s Financial Performance
•Julius Berger Nigeria PLC recorded a 74.04% year-over-year increase in pre-tax profit for the nine-month period ending September 30, 2024, achieving a cumulative pre-tax profit of N26.1 billion. This reflects strong financial performance and effective operations.
•Revenue also saw robust growth, with a year-over-year rise of 53.03%, climbing from N105.3 billion in Q3 2023 to N161.2 billion in Q3 2024.
Stock Market Performance
•Julius Berger’s stock has shown strong bullish momentum in 2024, opening the year at N43 with a market volume of 40 million shares.
•The stock maintained steady gains from March through June, briefly stabilizing in July. In August, the stock rebounded, surging 76% with a market volume of 141 million shares, reflecting solid fundamentals and growth potential.
•Currently, shares are trading at N164 per share, indicating market confidence in the company’s performance.
Dr. Indimi’s appointment brings valuable expertise to Julius Berger’s leadership as it aims to strengthen its market position and enhance financial outcomes.