Nascon Allied Industries Plc has recorded a profit of N15.6bn for the half year ended June 30, 2025, representing a 222 per cent increase compared to the N4.8bn posted in the corresponding period of 2024.
The company’s revenue rose by 55 per cent to N78.2bn from N50.4bn in the same period last year, according to its unaudited financial statements released on Monday.
Operating profit surged 196 per cent to N21.3bn in the first half of 2025, up from N7.2bn in the previous year. Profit before tax stood at N23.3bn, more than tripling the N7.2bn reported in the corresponding period of 2024.
The company’s earnings per share increased to 1,154 kobo in the half year, up from 359 kobo in the previous year.
Nascon’s cost of sales rose to N40.8bn in the six months to June 2025 from N28.4bn in the same period last year, reflecting higher production activity. Distribution and administrative expenses also increased to N15.6bn from N13 m last year.
Cash and cash equivalents rose to N36.6bn as of June 2025, compared to N24.7bn at the end of 2024, bolstering the company’s liquidity position.
Total assets grew to N111.6bn from N78.5bn in December 2024, while total equity increased to N53.2bn from N43.1bn.
The company paid dividends of N5.4bn during the period, reducing retained earnings to N51.5bn from N41.3bn at the start of the year.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact: [email protected]
