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UPDC Plc records highest profit growth among Nigeria’s listed construction and real estate companies in 2024
Key Takeaways:
  • The sector’s total PAT rose by 28% from ₦31.68 billion in 2023 to ₦40.49 billion in 2024.
  • Chapel Hill Denham Nigeria Infrastructure Debt Fund remained the top earner with ₦19.59 billion, despite a modest 4% year-on-year decline.
  • Julius Berger and UPDC REIT also posted strong profits, contributing significantly to the overall performance.
  • UPDC Plc recorded the strongest profit growth, surging by nearly 278% from ₦221.5 million in 2023 to ₦836.9 million in 2024.
  • Ronchess Global Resources Plc significantly narrowed its losses by over 64%, though it remained in negative territory.

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