March 9, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-Salt refining company, NASCON Allied Industries Plc said on Friday its profit after tax (PAT) for the period ended December 31, 2017 grew 121.25 percent to N5.34 billion from N2.41 billion posted a year ago.
In the same vein, pretax profit of the salt refiner increased 124.94 percent to N7.91 billion from N3.52 billion declared the same period of 2016.
Also, revenue of NASCON climbed up from N18.29 billion in 2016 end to N27.06 billion recorded in the review period of 2017; showing an increase of 47.96 percent, according to the company in a filing with the Nigerian Stock Exchange (NSE).
The salt refiner has offered its shareholders a dividend of N1.50 per share representing a dividend yield of 6.11 percent based on March 8, 2018 close price at the trading floor of the Nigerian bourse and 114.3 percent increase compared to N0.70 per share paid in 2016 end.
