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New Salt Refinery to Boost NASCON Allied Industries' Revenue, as Firm Pays N1.06bn Dividend


The NASCON Allied Industries Plc ended the 2020 financial year on a positive note based on the expected revenue increase from its new state-of-art salt refinery.
Rising from its 2020 Annual General Meeting that was held at the Civic Centre in Lagos during the weekend, the company announced an improved turnover of N28.01 billion, which represented two per cent increase from the 2019 performance of N27.49 billion despite the economic headwinds generated by the COVID-19 pandemic.
Its 2020 Annual Report with the theme ‘Protecting Our Core’ showed that NASCON recorded N2.69bn in Profit After Tax (PAT), for the financial year ended on December 31, 2020. It also recorded a 46 per cent increase for the year, compared to N1.85billion in 2019. Earnings per share also increased to N1.02 in 2020 compared to N0.70 in 2019. ....

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