Nascon Profits up 46%, to Pay N0.40 Dividend

Nascon Allied Industries Limited, a firm engaged in the principal activities of processing of raw salt into refined, edible and grade salt, has released full year (FY) 2020 results, showing a 46 percent increase in after-tax profits to N2.69 billion.

Nascon saw a bump in the bottom line compared to the previous period largely due to a 24 percent slide in cost of sales, resulting from a lack of external haulage costs of produce (in the period) as a result of the border closure.

The director’s of the firm which is a subsidiary of Dangote Industries Limited (DIL), in respect of the 2020 financial year, have proposed that a dividend of 40 kobo per ordinary share be paid to shareholders.