NASCON to pay 200 kobo dividend as full year profit reaches N15.58bn

Nascon Allied Industries Plc (NASCON) has released its audited financial statements for the year ended December 31, 2024. The principal activities of Nascon Allied Industries Plc include the processing of raw salt into refined, edible and grade salt. The Company also produces seasoning cubes.

The major shareholder of Nascon Allied Industries Plc is Dangote Industries Limited which owns 62.19 percent of the issued share capital, while the remaining 37.81percent is held by the general public. The company has 2,702,427,146 shares outstanding.

For the year ended 2024, the company proposed dividend of 200 kobo per share (2023: 100 kobo per share). The company’s basic and diluted earnings per share (kobo) rose to 577kobo in 2024, from 518kobo in 2023.

The N41 per share which the company traded on the NGX as at March 3 represent an increase by 30.78 percent year-to-date (YtD).

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Nascon Allied Industries Plc recorded a profit after taxation (PAT) of N15.58 billion (2023: N13.73 billion) for the year.

The company also grew its revenue to N120.387billion from N80.828billion in 2023, while its gross profit rose to N55.527billion from N44.318billion in 2023.

Its operating profit increased to N23.037billion in 2024 from N21.096billion in 2023, while profit before taxation (PBT) stood higher at N23.650billion on lower finance cost as against PBT of N20.588billion recorded in 2023.

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Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.