All performance metrics for NASCON Allied Industries Plc have shown outstanding growth in the year 2022, as the company’s earnings after taxes increased by 84 percent, from N2.97 billion to N5.47 billion.
Independent News reported that at the company’s 2022 annual general meeting which was conducted over the weekend in Lagos, shareholders praised the board and management of NASCON for their unaltered dividend payment schedule.
The profit before tax for the food seasoning company increased dramatically by 98 percent, from N4.24 billion to N8.37 billion, a gain of N4.12 billion, according to an analysis of its annual report.
With a 77 percent growth from 2021 to 2022, turnover increased from N33.28 billion to N58.79 billion. Earnings per share also grew from 112 kobo in 2021 to 206 kobo in 2022. In contrast to N1.06 billion in 2021, a total of N2.65 billion would be given as dividends.
At the AGM, a shareholder, Mr. Tunde Badmus, praised the management for the outstanding results and smooth operation of the business despite the challenging economic climate.
The board and management of NASCON were praised for their increased performance and dividend declaration by a former national coordinator for the Independent Shareholders Association of Nigeria, Mr. Anthony Omojola.
He urged the business to cooperate with registrars and the investor’s relations division to address the market’s mounting unclaimed dividends.
The company’s chairperson, Mrs. ‘Yemisi Ayeni, addressed the shareholders and stated that throughout the time period, greenhouse gas emissions were reduced by 5%.
According to Ayeni, the business launched waste reduction programs and cut back on the production of hazardous and non-hazardous trash by 28%.
