Juli Plc has recorded a profit after tax of N35.58m for the financial year ended December 31, 2024, representing a significant recovery from the N75,739 loss reported in 2023.
The company’s audited financial statements filed on the Nigeria Exchange Limited recently show that revenue surged by 65.7 per cent to N478.41m in 2024, up from N288.78m in the previous year.
This growth in turnover was accompanied by a corresponding increase in the cost of sales, which rose to N319.05m from N203.54m in 2023. As a result, Juli Plc’s gross profit for the year stood at N159.35m, reflecting improved operational performance.
Despite higher revenue, administrative expenses also saw an increase, rising to N123.78m in 2024 from N85.31m in the prior year. However, the company’s ability to contain costs within revenue growth contributed to its positive bottom line.
Further analysis of the company’s financial position indicates that total assets grew to N169.89m in 2024, up from N162.30m in 2023. The firm also reported an improvement in its capital structure, with share capital increasing from N100m to N274.99m. Additionally, a share premium of N524.99m was introduced, further strengthening the company’s financial position.
Juli Plc’s total liabilities stood at N217.52m, a reduction from N909.93m in 2023, mainly due to the removal of related-party liabilities amounting to over N700m.
The company’s equity position also saw a major shift, moving from a negative shareholders’ fund of N747.63m in 2023 to a deficit of N12.07m in 2024, indicating a reduction in accumulated losses.
