Julius Berger Pays N17.5bn Tax in the first half of 2026 after reporting N424.56 billion in revenue for the six months ended June 30, as the construction firm’s income tax expense nearly tripled from a year earlier, offsetting gains from stronger operating performance
The engineering and construction company disclosed in its unaudited financial statements for the period ended June 30, 2026, that income tax expense increased from N6.06 billion in the corresponding period of 2025 to N17.46 billion, representing an increase of about 188 per cent.
During the period, revenue grew to N424.56 billion from N343.45 billion a year earlier, driven by sustained activity across the company’s construction and engineering operations. Profit before tax also rose sharply to N23.52 billion, compared with N13.17 billion recorded in the first half of 2025.
However, the significantly higher tax charge weighed on the company’s bottom line, with profit after tax declining to N6.06 billion from N7.11 billion in the corresponding period last year.
Julius Berger said the tax charge was based on Nigeria’s applicable corporate tax framework, comprising 30 per cent Companies Income Tax and a 3 per cent Education Tax on assessable profits.
Operationally, the company delivered improved performance during the six-month period. Gross profit increased to N66.82 billion from N60.00 billion, while operating profit rose to N17.38 billion, compared with N9.43 billion in the first half of 2025.
The company also earned N8.98 billion in investment income, up from N6.56 billion in the same period last year, helping to lift earnings before taxation.
Despite the higher tax payment, Julius Berger maintained a strong liquidity position, ending the period with N168.80 billion in cash and bank balances.
The company also disclosed that it has N1.57 trillion in remaining performance obligations, providing visibility over future revenue from ongoing and contracted projects.
