Lagos, Nigeria – Nascon Allied Industries Plc has released its audited financial statements for the year ended December 31, 2025, reporting a pre-tax profit of N48.2 billion ($32 million USD). This represents a 103.98% year-on-year increase from N23.6 billion in 2024.
Okay News reports that the strong performance was driven by revenue growth, solid finance income, and lower costs. Full-year revenue rose to N152.6 billion, up 26.83% from N120.3 billion, with salt sales accounting for 92.46% of total revenue.
Earnings per share rose to N12.41 from N5.77, reflecting stronger profitability. The board proposed a dividend of N6 per share, up from N2 in 2024.
Revenue reached N152.6 billion, up 26.83% year-on-year from N120.38 billion. Cost of sales increased 21.40% to N78.73 billion. Gross profit climbed 33.17% to N73.94 billion.
Distribution costs declined 12.55% to N20.70 billion. Administrative expenses rose 29.35% to N8.96 billion. Operating profit surged 86.20% to N42.89 billion.
Finance income jumped 234.9% to N6.01 billion. Profit before taxation increased 103.98% to N48.24 billion. Profit for the year rose 115.16% to N33.52 billion.
Salt sales contributed N141.1 billion, or 92.46% of total revenue. Seasoning sales made up the remaining N11.5 billion. Regionally, the northern region accounted for 75.79% of sales, followed by 18.60% in the west and 5.60% in the east.
Other income totaled N236.1 million, mainly from scrap sales. Other operating losses fell 18.17% to N1.6 billion. After administrative expenses, operating profit settled at N42.8 billion.
Finance income rose largely from interest on short-term fixed deposits. Finance costs of N659 million left profit before tax at N48.2 billion. Profit after tax settled at N33.5 billion following N14.7 billion in tax.
Total assets grew 72.31% to N135.2 billion. Cash and cash equivalents of N41.6 billion and inventories of N40 billion represented the largest components. Retained earnings stood at N69.3 billion, up from N41.2 billion, making up 97% of total equity of N71.7 billion. Total liabilities increased to N64.08 billion from N35.4 billion.
The market has yet to fully react to the audited financials, with the stock slipping 0.58% in the week ended March 6, 2026. Despite this, the stock has gained 52.56% year-to-date on the Nigerian Exchange, with over 80 million shares traded.
. This represents a 103.98% year-on-year increase from N23.6 billion in 2024.){kind=link}