…As company pays out dividend of N5.2bn
It was excitement galore at the 55th Annual General Meeting, AGM of Nigeria’s leading engineering construction company as shareholders demonstrated their excitement at the assumption of duty of the Board Chairman, Engr. Goni Sheikh and Managing Director of Julius Berger Nigeria PLC, Dr. Peer Lubasch, both of whom presided over their first AGM of the company since their appointments into their respective new offices.
At the well-attended meeting held inside the Shehu Musa Yar’Adua Centre, Abuja, Thursday, the shareholders demonstrated their optimism in their contributions all through the meeting with each that had the opportunity os speaking, lauding the appointments of the duo and expressing their expectations that, now the company is in good hands.
One shareholder who said she is from the Southwest openly told some of her fellow shareholders that, the leaders performed well, adding that with the new combination of Goni Sheikh and Peer Lubasch, things will get better for Julius Berger.
The shareholders further demonstrated their resolve by overwhelmingly passing all the resolutions of the Board that included; shareholders dividends, new Executive Directors, new non-Executive Director, re-election of some directors and the appointment of Goni as a Director of the company.
In his address at the meeting, the Managing Director, Dr Peer Lubasch, said since he assumed office some months ago, the company is successfully navigating the headwinds of challenges in its line of duty.
Lubasch said the broader socio-economic environment continues to present significant challenges shaped by a range of persistent and compounding pressures like currency devaluation, ongoing foreign exchange scarcity, escalating construction costs, surging inflation, increased fuel prices, high lending rates, global market uncertainties and domestic security concerns.
Stressing that the foregoing factors combined to create a tough and unpredictable business landscape, especially for the construction sector and Nigeria in particular, he added that in line with the company’s mission statement, we continue to transform these challenges into tangible opportunities.
As a company, we have continued to demonstrate resilience, navigating headwinds by adapting with an eye towards efficiency and sustainable growth.
Lubasch also noted that the company achieved record-high revenue, expanded its asset base and maintained stability across both new and ongoing projects within the reporting year.
The Managing Director disclosed that the success of the company in the year under review stemmed from the well-established and forward-looking strategy which integrates core business strengths, the collaboration and contributions of the growing group of subsidiaries alongside a deliberate diversification policy which has largely defined the success story of the company.
On diversification, Lubasch said, we are already making significant steps forward with our regional diversification strategy, with two contracts in the Republic of Benin, even as he assured excited shareholders of greater success even in these hard times, which he attributed to, the well-disciplined execution of strategy, agile leadership, the dedication of teams and the power of fundamental values of excellence, responsibility, courage and collaboration.
Lubasch did not mince words in assuring that the company’s leadership remained poised to building a future defined by excellence, saying; “while the future holds many unknowns, we remain certain that no matter the challenge, Julius Berger will continue to be defined by the excellence and innovation and to operate in a sustainable manner that aligns with our ethos and values in line with global standards”.
