NASCON Allied Industries Plc has attributed its 100% growth in dividend payout to N2 per share and higher profitability to its successful market expansion drive.
The company’s management said the aggressive expansion led to a significant increase in sales, revenue, and profitability.
The company’s chairman, Olakunle Alake, identified operational efficiency and strategic initiatives as core elements behind the company’s impressive run.
He noted that the company has successfully expanded its market presence, driven sales, and delivered high-quality products.
The company reported impressive financial growth, with revenue increasing by 49% to N120.4 billion, gross profit rising by 25% to N55.5 billion, and profit after tax growing by 14% to N15.6 billion.
The company’s managing director, Thabo Mabe, outlined plans to continue the revenue growth trajectory, expand into new markets, and enhance product lines.
He also emphasized the company’s commitment to sustainability initiatives and workforce development programs.
Shareholders commended the company for its impressive financial performance and declared dividend, praising the management and board for their efforts in driving growth and delivering value to stakeholders.
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