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.

Read also: CSCS achieves platinum certification as a Great Place to Work

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).

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.

Last 7 Days Trades