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Tag: NASCON

  • NASCON assures shareholders of higher returns

    NASCON assures shareholders of higher returns

    NASCON Allied Industries Plc has assured its shareholders of continuous growth and value creation in 2024. The company gave the assurance at its 2023 annual general meeting held yesterday in Lagos.

    Speaking to shareholders, Chairperson, NASCON Allied Industries, Yemisi Ayeni said amidst the challenges in 2023, the company achieved commendable operational performance.

    She said  strategic initiatives and proactive easures enabled the company to grow in value and profitability.

    She said, “Our turnover for the financial year ended December 31, 023, grew 37 percent to N80.8 billion, marking a significant increase from the previous year. Profit after Tax also saw an impressive growth of 151 percent to N13.7 billion, reflecting our commitment to operational efficiency and excellence.”

    On future plans, Ayeni stated that “as we look ahead, NASCON remains focused on its commitment to health, safety, and environmental sustainability. Despite ongoing challenges in the global and national landscape, we are optimistic about the prospects of our company. The Board and Management are steadfast in our dedication to driving continued growth and innovation while maintaining a steadfast commitment to our stakeholders and communities.”

    Managing Director, NASCON Allied Industries, Thabo Mabe noted that in 2023, the company faced significant business challenges amid Nigeria’s economic challenges, characterised by deteriorating macroeconomic indicators compared to the previous year.

    Read Also: NASCON’s shareholders get 150% dividend increase

    He added that despite the formidable challenges faced in 2023, NASCON remained steadfast in its commitment to stakeholders, prioritising their well-being and maintaining integrity and compliance in all endeavours.

    He pointed out that, “in positioning NASCON for sustained growth while maintaining profitability, we have outlined a multifaceted strategy that leverages our strengths, embraces innovation, and prioritises efficiency. By identifying emerging trends and consumer preferences, we can capitalise on untapped opportunities for growth while mitigating risks associated with market saturation.

    “Through continuous process optimisation and strategic resource allocation, we seek to enhance productivity and reduce costs, thereby bolstering our bottom line and ensuring long-term sustainability.

    Also, strategic partnerships and collaborations play a pivotal role in our growth strategy. By forging alliances with industry peers, suppliers, distributors, and other stakeholders, we can access new markets, technologies, and resources that complement our core competencies.

    “Through mutually beneficial partnerships, we can accelerate market expansion, drive innovation, and unlock new revenue streams. By aligning our strategic initiatives with our mission and vision, we aim to create sustainable value for all stakeholders while contributing to economic development of the communities in which we operate,” he added.

  • Mixed earnings: NSE indicators maintain negative outlook

    Activities on the Nigerian Stock Exchange (NSE), for the second consecutive day, maintained bearish trend, dropping further by 1.02 per cent due largely to mixed 2018 earnings reports.

    The market capitalisation on Tuesday, nosedive by N120 billion or 1.02 per cent to close at N11.677 trillion against N11.797 trillion on Monday.

    The All-Share Index maintained the same direction, dropping by 323.30 points or 1.02 per cent to close at 31,313.36 compared with 31,636.66 posted on Monday.

    The drop in market indices was contrary to expectations of some market analysts who were of the opinions that the market would rebound following relatively peaceful conduct of the general elections.

    Commenting, Mr. Ambrose Omordion, the Chief Operating Officer, Invest Data Ltd., told NAN that the lull was due to low liquidity in the system.

    Omordion said that the low liquidity was as a result of early exit of smart money in the market.

    He said that some smart investors whose expectations were dashed exited the market shortly after the presidential election.

    Omordion said that mixed numbers emanating from quoted companies for 2018 financial year contributed to the development.

    Meanwhile, Mobil recorded the highest loss during the day, declining by N5.10 to close at N165 per share.

    International Breweries trailed with a loss of N2.65 to close at N24.05, while Guaranty Trust Bank dropped by N1.80 to N35.50 per share.

    NASCON dipped N1 to close at N20.70, while Dangote Cement also depreciated by N1 to close at N194 per share.

    Lafarge Africa dominated the gainers’ table, gaining 50k to close at N13 per share.

    United Capital followed with a gain of 13k to close at N3.28, while UAC Property added 13k to close at N1.95 per share.

    Africa Prudential increased by 12k to close at N4.92, while Union Bank of Nigeria gained 10k to close at N7 per share.

    FBN Holdings was the most active in volume terms, exchanging 60.14 million shares worth N493.12 million.

    Zenith Bank followed with an account of 46.46 million shares valued at N1.05 billion, while Zenith Bankexchanged 14.47 million shares worth N35.32 million.

    Access Bank traded 11.45 million shares valued at N68.46 million, while United Bank for Africa sold 8.53 million shares worth N64.66 million.

    In all, a total of 219.37 million shares valued at N2.93 billion was traded by investors in 3,345 deals, representing an increase of 70.89 per cent.

    This was against 128.37 million shares worth N2.39 billion exchanged in 2,752 deals on Monday.

    NAN

  • NASCON unveils cubes

    Management of the NASCON Allied Industries Plc, a subsidiary of the Dangote Industries Limited, yesterday in Kano,  unveiled its new Classic Seasoning Cube  pledging its commitment to ensuring healthy living for Nigerians.

    Its Executive Director, Commercial, Fatima Aliko Dangote who spoke on the occasion, said the new cube is a product of thorough and painstaking research into people’s preference in the seasoning sub sector of the food industry. She said it came in the wake of a similar launch  of new Curry Powder and Stew Mix from the stable of NASCON.

    She said she had no doubt in her mind that the new product would be an instant hit given its unique taste, flavour and aroma, noting that the new seasoning cubes and stew mix were created with a special blend of herbs and spices to give meals unique taste and great aroma.

    She said it is a new innovation birthed after years of consumer led research and development, and urged distributors, marketers, eateries and consumers to immediately key into it.

    According to her, the management of NASCON decided to go into the research for the new product bearing in mind that people’s wellbeing is reduced by poor diet while it is expensive to be unhealthy.

    Good nutrition, she said boosts immune system and delays the effect of aging because it reduces the risk of chronic disease while poor diet reduces physical and mental health. She therefore urged women to try the new seasoning cubes, stew mix and curry powder, as they would ensure meal moments are great moments.

    In his remarks, the Group Managing Director of NASCON Allied Plc,  Mr. Paul Farrer said the new product is a high margin product that would help ensure distributors and customers remain profitable, describing the new product as premium but affordable to the consumers.

  • NSE trading opens for the week with a loss of 0.26%

    Trading on the Nigerian Stock Exchange ( NSE ) opened for the week on Monday with a drop of 0.26 per cent due to price depreciation of some blue chips.

    The All-Share Index dipped 111.35 points or 0.26 per cent to close at 43,056.51 as against 43,167.86 achieved on Friday.

    Also, the market capitalization, which opened at N15.507 trillion lost N105 billion or 0.68 per cent to close at N15.402 trillion.

    A breakdown of the price movement chart showed that Unilever recorded the highest, shedding N1.40 to close at N60.80 per share.

    Nestle trailed with a loss of N1 to close at N1, 380, while NASCON was down by 90k to close at N23 per share.

    Cadbury depreciated by 80k to close at N17.60, while United Bank for Africa went down by 60k to close at N22.30 per share.

    On the other hand, Total led the gainers’ table for the day, growing by N4.10 kobo to close at N246.10 per share.

    Dangote Sugar came second with a gain of 85k to close at N23.35, while Nigerian Breweries gained 50k to close at N130 per share.

    UACN added 45k to close at N17.95, while Ecobank Transnational increased by 20k to close at N20 per share.

    Also, the volume of shares traded closed lower as investors bought and sold 831.39 million shares valued at N10.57 million on 5, 651 deals.

    This was in contrast with a total of 1.54 billion shares worth N19.71 billion traded in 4,599 deals on Friday.

    FBN Holdings emerged investors delight, accounting for 425.60 million shares valued at N5.29 billion.

    Zenith International Bank followed with an exchange of 78.96 million shares worth N2.45 billion, while Japaul Oil and Maritime traded 64.77 million shares valued at N64.01 million.

    Regency Alliance Insurance exchanged 41.64 million shares worth N13.80 million, while Unity Kapital traded 24.53 million shares valued at N7.72 million.

    NAN

  • Major oil stocks plummet on NSE

    Major oil stocks plummet on NSE

    Major oil stocks posted price depreciation on the Nigerian Stock Exchange (NSE) on Monday just as the market indices recorded marginal growth of 0.02 per cent.

    The News Agency of Nigeria (NAN) reports that Seplat dipped N13.70 to close at N571.40 to lead the losers’ table.

    Total trailed with a loss of N11 to close at N217, while Mobil Oil shed N9.50 to close at N180.50 per share.

    Dangote Cement was down by N1 to close at N259, while United Bank for Africa declined by 45k to close at N12.50 per share.

    Conversely, International Breweries topped the gainers’ table, growing by N2.85 to close at N59.85 per share.

    PZ Industries followed with a gain of N1.15 to close at N24.15, while NASCON appreciated by N1.05 to close at N21.60

    Guaranty Trust Bank advanced by 75k to close at N49.35, while Redstar increased by 30k to close at N6.30 per share.

    Consequently, the All-Share Index rose marginally by 8.59 points or 0.02 per cent to close at 42,579.48 compared with 42,570.89 achieved on Friday.

    Similarly, the market capitalisation which opened at N15.277 trillion rose by three billion naira or 0.02 per cent to close at N15.280 trillion.

    Cement Company of Northern Nigeria was the most active stock, trading 134.89 million shares worth N2.25 billion.

    Transcorp followed with an account of 34.15 million shares valued at N71.04 million, while FBN Holdings traded 21.78 million shares worth N250.07 million.

    Access Bank sold 20.58 million shares valued at N 270.03 million, while Fidelity Bank exchanged 20.49 million shares worth N 61.30 million.

    In all, the volume of shares transacted closed higher as investors bought and sold 384.26 million shares valued at N5.47 billion achieved in 4,774 deals.

    This was in contrast with a turnover of 308.43 million shares worth N6.40 billion exchanged in 4,356 deals.

  • NASCON grows profit by 130% to N6b in Q3

    NASCON Allied Industries Plc, a member of the Dangote Group, recorded significant growths in sales and profitability in the third quarter, putting the company in good stead to increase dividend payout for another consecutive year.

    Key extracts of the interim report and accounts for the third quarter ended September 30, 2017 showed that gross earnings rose by 62 per cent while profit before tax jumped by 130 per cent. Net earnings per share doubled by 129 per cent from 89 kobo in third quarter 2016 to N2.04 in third quarter 2017.

    NASCON had paid a dividend per share of 70 kobo for the 2016 business year, 27 per cent above 55 kobo paid for the 2015 business year. Earnings per share had improved from 79 kobo in full-year 2015 to 91 kobo in full-year 2016.

    The latest report showed that turnover rose from N12.8 billion in third quarter 2016 to N20.71 billion in third quarter 2017. Profit before tax doubled from N2.59 billion to N5.96 billion while profit after tax leapt from N1.76 billion to N4.05 billion.

    Chairman,   NASCON Allied Industries Plc, Yemisi Ayeni, recently said the company would be making new investments in its major lines of operations to improve overall efficiency and market share in continuation of ongoing efforts to ensure long-term growth and returns to shareholders.

    She assured shareholders of its unwavering commitment to the continued growth and prosperity of the company.

    She said the outlook for the company remains optimistic as it continues to drive growth across its core brands with significant investments in marketing and brand building efforts.

    She said the company would also continue to focus on distribution and route-to-market efficiency as a key driver of growth.

    “To support our growth strategy, we will be investing in salt packaging and seasoning cubing lines to improve efficiency and increase market share. We will be acquiring new trucks to reduce external hiring and ensure optimal distribution of all our products,” Ayeni said.

    Managing director, NASCON Allied Industries Plc, Mr. Paul Farrer, noted that with expected steady improvements in the economy over the next 18 months, the company is confident of improved performance.

    He added that the company had taken some key decisions in the area of retail pricing and convenience, which have resulted in immediate and long-term gains, including a focus on optimization of the route to market to ensure product availability.

    “We remain confident that our long term strategy for vegetable oil and tomato paste businesses will yield results in the near future,” Farrer said. NASCON had suspended the vegetable oil and tomato paste businesses in 2016 due to paucity of raw materials.

  • NASCON promises better future as shareholders get N1.85b dividend

    NASCON Allied Industries Plc would be making new investments in its major lines of operations to improve overall efficiency and market share in continuation of ongoing efforts to ensure long-term growth and returns to shareholders.

    The board of directors of NASCON yesterday at the annual general meeting in Lagos assured shareholders of its unwavering commitment to the continued growth and prosperity of the company. The assurance came as shareholders approved distribution of N1.85 billion as cash dividend for the 2016 business year as against N1.46 billion distributed for the 2015 business year. Shareholders will receive a dividend per share of 70 kobo, 27 per cent above 55 kobo paid for the 2015 business year.

    Addressing the shareholders, chairman,   NASCON Allied Industries Plc, Yemisi Ayeni, said the outlook for the company remains optimistic as it continues to drive growth across its core brands with significant investments in marketing and brand building efforts.

    She said the company would also continue to focus on distribution and route-to-market efficiency as a key driver of growth.

    “To support our growth strategy, we will be investing in salt packaging and seasoning cubing lines to improve efficiency and increase market share. We will be acquiring new trucks to reduce external hiring and ensure optimal distribution of all our products,” Ayeni said.

    Managing director, NASCON Allied Industries Plc, Mr. Paul Farrer, noted that with expected steady improvements in the economy over the next 18 months, the company is confident of improved performance.

    He added that the company had taken some key decisions in the area of retail pricing and convenience, which have resulted in immediate and long-term gains, including a focus on optimization of the route to market to ensure product availability.

    “We remain confident that our long term strategy for vegetable oil and tomato paste businesses will yield results in the near future,” Farrer said. NASCON had suspended the vegetable oil and tomato paste businesses in 2016 due to paucity of raw materials.

    Key extracts of the audited report and accounts for the year ended December 31, 2016 showed that NASCON grew turnover to N18.29 billion in 2016 as against N16.18 billion in 2015. Gross profit rose from N4.36 billion to N5.92 billion. Operating profit also increased from N3.03 billion to N3.82 billion. Profit before tax rose from N3.02 billion to N3.52 billion. Profit after tax increased from N2.11 billion to N2.42 billion. Earnings per share thus improved from 79 kobo in 2015 to 91 kobo in 2016.