Nascon Declares 104% Increase in Profit, Proposes 600kobo Dividend

Kayode Tokede

Nascon Allied Industries Plc has announced its 2025 audited result and accounts with N48.24 billion profit before tax, about 104 per cent increase over N23.65billion reported in 2024 financial year. 

The company in the year under review  saw its profit after tax at  N33.53 billion, a significant increase of 115 per cent from N15.58billion in the corresponding period of 2024.  

With the growth, ,the management proposed   a dividend of 600kobo in 2025 (N16.2 billion ) as against 200 kobo (N5.4billion) paid to shareholders in 2024.   

The impressive performance was driven by N152.7billion revenue in 2025, up by 27 per cent from N120.4billion reported in 2024 and finance costs that closed 2025 at N6.01 billion, about 235 per cent increase when compared to N1.79 billion reported  in 2024.  

The Managing Director, Nascon Allied Industries, Mr. Aderemi Saka in a statement said: “It is a privilege to present the audited results of Nascon Allied Industries Plc for the year ended December 31, 2025. This year’s performance stands as a testament to our collective resilience and strategic discipline in navigating a demanding macroeconomic environment. 

“Our commitment to operational excellence delivered the strongest bottom-line performance in our company’s recent history. Revenue grew by 27per cent to N152.7 billion, reinforced by a robust demand for our salt and seasoning products and improved production stability, while gross 

profit rose by 33 per cent to N73.9 billion. Profit After Tax surged by 115per cent to N33.5 billion, and this exceptional earnings growth translated into a 115per cent increase in Earnings Per Share, now at N12.41. 

“Reflecting this solid performance, the Board is pleased to propose a dividend of N6.00 per share, representing a 200 per cent increase.  A major driver of our progress in 2025 was the 72per cent expansion of our asset base to N135.3 billion, enabled largely by our strategic investment in new Compressed Natural Gas (CNG) trucks. 

“This transition serves a dual purpose: protecting our operations from the volatility of diesel prices while significantly reducing our carbon footprint. By strengthening our  logistics capabilities, we have enhanced operational independence and secured greater supply chain control, deepening the sustainability of our business model. 

“We concluded the year with a strong liquidity position, as cash and cash equivalents rose by 69per cent to N41.6 billion, supported by operating cash flows of N43.9 billion. This financial strength gives us the capacity to continue investing in technology, infrastructure, and operational efficiency initiatives that will reinforce our market leadership. 

“As we look ahead, we remain focused on increasing our market presence, strengthening operational resilience, and executing the long-term strategic initiatives that support sustainable growth. 

“With a solid balance sheet and a committed workforce, we are well-positioned to continue delivering value to our shareholders and all stakeholders.  

I extend my sincere appreciation to our shareholders, customers, and employees for their unwavering support. As we move forward, I am optimistic about carrying this momentum into 2026 and beyond.”