{
  "id": 17268414,
  "title": "Julius Berger’s cashew and regional expansion unit loses N25.8 billion in 9M 2026",
  "url": "https://urgent.news/2026/10/30/julius-bergers-cashew-and-regional-expansion-unit-loses-n25-8-billion",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-30T18:02:18.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/10/30/julius-bergers-cashew-and-regional-expansion-unit-loses-n25-8-billion-in-9m-2026/"
  },
  "original_language": "en",
  "account": "In 2026's third quarter, Julius Berger Nigeria Plc's Diversification segment experienced a substantial operating loss of N25.77 billion, significantly higher than the N6.49 billion loss recorded in the same period the previous year. This loss nullified nearly half of the N53.14 billion operating profit earned by the company's core segments: civil works, building works, and services. The Diversification segment consists of Julius Berger's cashew processing business in Epe, Lagos, and its expansion into new regional markets.\n\nThe company does not report the two activities separately, which hampers visibility into their individual contributions to revenue and losses. Government-client contracts, possibly linked to regional construction projects, seem to have contributed to the segment's growth. However, the exact revenue split between construction and cashew processing remains undisclosed.\n\nJulius Berger had earlier announced a contract for road and crossing rehabilitation in Cotonou, Republic of Benin, marking its first venture outside Nigeria. The filing failed to disclose the size of the segment's loss. Despite the Diversification segment's loss, the company's core segments generated a combined operating profit of N53.14 billion, a 73% increase from N30.71 billion in the equivalent period of 2025. This led to a total group operating profit of N27.37 billion, marking a 13% growth from the previous year.\n\nHowever, the combination of diversification losses and an increased tax charge adversely affected the group's bottom line. Profit after tax saw a 44.2% decline to N10.19 billion, and earnings per share dropped to N6.24 from N11.28. The Diversification segment's remaining performance obligations stood at N48.3 billion as of September 30, 2026, representing contracted revenue yet to be recognized. Nearly half of this amount is expected to be recognized in the final three months of the year.",
  "summary": "Julius Berger Nigeria Plc’s Diversification segment recorded an operating loss of N25.77 billion in the nine months ended September 30, 2026, almost four times the N6.49 billion loss reported a year earlier. The post Julius Berger’s cashew and regional expansion unit loses N25.8 billion in 9M 2026 appeared first on Nairametrics .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}