NASCON Allied Industries Plc has published its unaudited financial results for the period ended March 31, 2025, showcasing a robust performance with significant growth in revenue and profitability.

The company’s earnings per share stood at N3.74, more than doubling from N1.86 in first quarter of 2024.

Analysis of the result shows revenue surged by 77.2% year on year, driven by strategic price increases across salt and seasoning products and higher sales volumes, particularly in the Northern market.

The Northern market demonstrated strong performance, accounting for 78.0% of total revenue and expanding by 85.4% year on year.

The Western and Eastern regions also delivered positive growth, albeit at a more moderate pace.

Financial analysts are of the view that NASCON’s strong first quarter performance signals the potential for an exceptional year, underpinned by strong revenue growth, margin expansion, and significantly higher profitability.

The company’s operational strength and market penetration, particularly in the dominant Northern market, highlight its resilience.

However, persistent cost pressures, particularly around rising input costs, remain a key risk to margin stability.

Despite a contraction in gross margin by 448 basis points to 42.8%, EBITDA and EBIT margins expanded notably, increasing by 16.49 percentage points and 17.38 percentage points to 26.4% and 24.9%, respectively.

Profit before tax grew significantly by 515.0% year on year to N11.31 billion, while profit after tax settled at N7.58 billion, up from N1.23 billion in 2024.