Julius Berger Set To Commission Cashew Processing Plant in September
Julius Berger Nigeria Plc has announced that the official launch ceremony of its cashew processing plant would be held on September 10, 2022.
This is contained in a disclosure signed by C. E. Madueke, the Company Secretary on the commissioning of the cashew processing factory.
According to the company, the diversification direction would support the continued success of the Julius Berger Group in the future.
It stated, “Julius Berger Nigeria Plc (“Julius Berger”), on February 14, 2022, had announced to the Market that the pioneer cashew processing plant located in Epe, Lagos State, Julius Berger’s first Agro-processing activity, Cashew processing, which shall form the cornerstone of Julius Berger’s diversification activities, and in particular in the Agro-sector, would be commissioned in the Second Quarter of the financial year 2022.
“Julius Berger is pleased and indeed excited to announce to the market that the official launch ceremony of the cashew processing plant would be on September 10, 2022.
“Julius Berger reiterates that our diversification direction would support the continued success of the Julius Berger Group in the future and align with the strategic objectives of the Government to stimulate value creation in Nigeria. We trust that the Market would accept and react favourably to the information given above.”
What you should know
The company had earlier reported that Julius Berger Plc released a progress statement regarding its first diversification activity. The statement disclosed that regarding its first Agro-processing activity, a Cashew processing plant will be due for commissioning in the second quarter of 2022.
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The company recently released its first half quarter result showing total revenue of N218 billion. The amount is 49% rise from the amount reported in the same period the previous year.
Similar to this, the profit after tax improved significantly to N6 billion in H1 2022 against the N4.76 billion in H1 of 2021.