Nascon reports N48.2 billion FY2025 profit on strong salt sales

Nascon Allied Industries Plc has released its audited financial statements for the year ended 31 December 2025, reporting a pre-tax profit of N48.2 billion.

This represents a 103.98% year-on-year increase from N23.6 billion in 2024, driven by strong 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.

MoreStories

Meet 10 powerful women leading NGX-listed FMCG and manufacturing companies

March 8, 2026

CBN to raise N850 billion in fresh Treasury Bills auction March 11

March 8, 2026

Earnings per share rose to N12.41 from N5.77, reflecting stronger profitability, while the board proposed a dividend of N6 per share, up from N2 in 2024.

**Key highlights (FY 2025 vs FY 2024) **

• Revenue: N152.6 billion (up 26.83% YoY from N120.38 million)
• Cost of sales: N78.73 million (up 21.40% YoY from N64.86 million)
• Gross profit: N73.94 million (up 33.17% YoY from N55.52 million)
• Distribution costs: N20.70 million (down 12.55% YoY from N23.67 million)
• Administrative expenses: N8.96 million (up 29.35% YoY from N6.92 million)
• Operating profit: N42.89 million (up 86.20% YoY from N23.03 million)
• Finance income: N6.01 million (up 234.9% YoY from N1.79 million)
• Profit before taxation: N48.24 million (up 103.98% YoY from N23.65 million)
• Profit for the year: N33.52 million (up 115.16% YoY from N15.58 million)

**Driving the numbers: **

A cursory look at Nascon Allied Industries’ revenue of N152.6 billion shows that salt sales contributed N141.1 billion, or 92.46% of total revenue, while 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.

As expected, cost of sales rose alongside revenue, reaching N78.7 billion, up 21.40%, leaving gross profit at N73.9 billion, up 33.17%.

Other income totaled N236.1 million, mainly from scrap sales, while other operating losses fell 18.17% to N1.6 billion, and distribution costs dropped 12.55% to N20.7 billion.

• After administrative expenses of N8.9 billion, operating profit settled at N42.8 billion, up from N23.03 billion in the previous year.

Finance income rose to N6.0 billion from N1.7 billion, largely from interest on short-term fixed deposits, while finance costs of N659 million left profit before tax at N48.2 billion, settling at N33.5 billion PAT after N14.7 billion in tax.

• On the balance sheet, total assets grew 72.31% to N135.2 billion, with cash and cash equivalents of N41.6 billion and inventories of N40 billion representing the largest components.
• On the equity side, retained earnings stood at N69.3 billion, up from N41.2 billion, making up 97% of total equity of N71.7 billion. On the liabilities side, total liabilities increased to N64.08 billion from N35.4 billion.

**Market reaction: **

The market has yet to fully react to Nascon Allied Industries’ audited financials, with the stock slipping 0.58% in the week ended 6 March 2026.

• Despite this, the stock has gained 52.56% year-to-date on the Nigerian Exchange, with over 80 million shares traded.
• Shareholders are expected to respond to the results in the coming sessions.