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Nascon Allied declares 151.28% increase in profit-after-tax for FY 2023

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3 years ago

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The profit after tax for Nascon Allied Industries Plc increased to N13.72 billion in 2023 from N5.46 billion in 2022. This is a 151.28% increase over the same period last year.
The company’s 2023 financial report, which is available on the Nigerian Stock Exchange (NGX), includes this information.
From N58.78 billion in 2022 to N80.82 billion in 2023, the company’s revenue increased by 37.49%.
Additionally, Nascon Allied reported a pre-tax profit of N20.58 billion, a 145.58% rise over the N8.37 billion reported in FY 2022
The Board recommended a special dividend of N5.18k per share, an increase from the N2.06k recorded in 2022.
Details of Nascon Allied financial result for 2023
Revenue- N80.82 billion from N58.78 billion in 2022
Gross profit- N44.31 billion from N24.54 billion in 2022
Operating profit- N21.09 billion from N8.67 billion in 2022
PBT- N20.58 billion from N8.37 billion in 2022
Profit-after-tax (PAT) – N13.72 billion from N5.46 billion in 2022
EPS- N5.18k in 2023 from N2.06k in 2022
The company recorded an net exchange rate gain of N228.3 million in 2023- an increase from the N368.69 million net FX loss recorded in 2022.
Nascon Allied plc share price was up by 4.4% today to N58.5k on the Nigerian Stock Exchange (NGX) on the back of filing the report.
For 2023, the company paid a tax of N6.85 billion, an increase from the N2.90 billion

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