Nascon Allied Industries Plc has announced a remarkable 49% increase in revenue to N120.4 billion for the financial year ended December 31, 2024.
Key Point: The company's impressive revenue growth was driven by strategic initiatives and market resilience, resulting in significant increases in gross profit, EBITDA, and profit after tax.
The company's financial highlights include:
- 49% increase in revenue to N120.4 billion
- 25% rise in gross profit to N55.5 billion
- 19% growth in EBITDA to N27.4 billion, representing a 23% margin
- 15% increase in profit before tax to N23.7 billion
- 14% rise in profit after tax to N15.6 billion
Nascon Allied Industries also demonstrated strong financial management, with a:
- 20% rise in total assets to N78.5 billion
- 100% increase in dividend payment to N2.00 per share
- Significant reduction in total debts, down to N19.5 billion from N22.7 billion in the previous year
The company's commitment to sustainability and social responsibility was evident in its environmental and community initiatives, including the diversion of 1.5 tonnes of poly-roll waste from landfills and the completion of 12 community projects.
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