In 2024, the listed construction and real estate companies in Nigeria declared higher EPS, with UPDC Plc's earnings per share rising by 400% from 2023

Key Takeaways:

  • SFS REIT reported the highest EPS in 2024 at ₦21.50, up from ₦14.50 in 2023.
  • UPDC Plc achieved the most significant growth, with EPS rising fivefold from ₦1.00 to ₦5.00.
  • Most companies posted improved EPS, reflecting stronger earnings and better shareholder returns.
  • Ronchess Global Resources reduced its loss per share by 68%, from -₦71.50 to -₦23.15.
  • Julius Berger and UPDC REIT recorded steady EPS growth of 23% year-on-year.

Earnings per share (EPS) improved notably across Nigeria’s construction and real estate sector in 2024, signalling stronger profitability and increased value for shareholders. SFS REIT led the sector with the highest EPS at ₦21.50, representing a 48% rise from 2023. Julius Berger followed with an EPS of ₦9.54, up from ₦7.78.

UPDC PLC delivered the most impressive year-on-year growth, recording a 400% increase in EPS from ₦1.00 to ₦5.00, underscoring a strong recovery. UPDC REIT and UH REIT also showed consistent year-on-year gains. Although Ronchess Global Resources recorded a negative earnings per share, it substantially reduced its loss per share, suggesting operational improvements.

Source:

NGX, Company’s Financial Report

Period:

2024
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