Nascon Allied Industries Plc has reported a remarkable turnaround in its financial performance for the year ended 31 December 2025, with pre-tax profits more than doubling compared to the previous year. The company posted a pre-tax profit of N48.2 billion, marking a 103.98% increase from N23.6 billion in 2024, a performance underpinned by robust revenue growth, solid finance income, and prudent cost management.
Revenue for the full year surged to N152.6 billion, a 26.83% increase over N120.3 billion recorded in 2024. Salt sales remained the backbone of the company’s earnings, contributing N141.1 billion—or 92.46% of total revenue—while seasoning products accounted for the remaining N11.5 billion. Geographically, the northern region drove the bulk of sales, generating 75.79% of total revenue, followed by the western region at 18.60%, and the eastern region at 5.60%.
The rise in revenue naturally led to an increase in cost of sales, which climbed 21.40% to N78.7 billion. Despite this, the company maintained a healthy margin, posting gross profit of N73.9 billion, up 33.17% from N55.5 billion in 2024. Ancillary income from sources such as scrap sales contributed N236.1 million, while other operating losses declined by 18.17% to N1.6 billion. Distribution costs also fell 12.55% to N20.7 billion, reflecting improved operational efficiency.
Administrative expenses rose to N8.96 billion, but operating profit still surged to N42.89 billion, representing an 86.20% increase over the prior year. Finance income recorded a significant jump to N6.01 billion from N1.79 billion, largely driven by interest on short-term fixed deposits, while finance costs of N659 million were relatively modest. These developments culminated in profit before tax of N48.24 billion and a net profit of N33.52 billion, up 115.16% from N15.58 billion in 2024.
Earnings per share rose sharply to N12.41 from N5.77, reflecting the company’s enhanced profitability. The board has proposed a dividend of N6 per share, tripling the N2 per share paid in 2024, signaling confidence in sustainable returns to shareholders.
On the balance sheet, Nascon Allied Industries demonstrated strong growth in its asset base, with total assets expanding 72.31% to N135.2 billion. Cash and cash equivalents stood at N41.6 billion, while inventories of N40 billion remained a key component. Shareholders’ equity strengthened to N71.7 billion, with retained earnings accounting for N69.3 billion, or 97% of total equity. Total liabilities rose to N64.08 billion from N35.4 billion, reflecting increased financial commitments aligned with growth.
Despite the stellar results, the market reaction has been relatively muted. The company’s stock dipped 0.58% in the week ended 6 March 2026. Nevertheless, the share has recorded a year-to-date gain of 52.56% on the Nigerian Exchange, with over 80 million shares traded, suggesting investor optimism that could translate into stronger momentum in the sessions ahead.
Nascon Allied Industries’ performance underscores its dominant position in the salt and seasoning market, demonstrating resilience, operational efficiency, and strategic growth that continue to reward both the company and its shareholders.