Index to Nigerian Newspapers

Nascon Allied Revenue Hits N120bn

Nascon Allied Industries Plc has reported a 49 percent increase in revenue to N120.4bn for the financial year ended December 31, 2024. The company’s gross profit rose by 25 percent to N55.5bn and its profit after tax grew by 14 percent to N15.6bn, allowing the board to propose a doubling of dividend payments to two naira per share. At the same time, the company successfully lowered its overall debts and borrowings while maintaining a strong cash position and expanding its total assets. Alongside its business success, the firm engaged in social and environmental efforts by recycling industrial waste and completing twelve community development projects. The managing director attributed this positive performance to smart business strategies and market resilience, reaffirming a commitment to long-term growth and shareholder value.

AINA, Temitope | 1. Corporations -- Finance -- Nigeria 2. Business enterprises -- Finance | Punch Newspaper | Wednesday, March 05, 2025