NASCON Allied Industries Plc has announced its 2024 full-year audited results for the period ended December 31, 2024, reporting an 11.4% year-on-year growth in earnings per share (EPS) to N5.77.

The company’s revenue grew by 48.9% year-on-year, driven by strategic price increases and aggressive volume drive across its Salt and Seasoning business segments.

The company’s board has proposed a final dividend of N2.00 per share, representing a dividend yield of 4.8% based on the closing price of N41.80 per share as of March 4.

Despite the challenging macroeconomic environment, NASCON sustained profitability and delivered earnings growth.

The company’s gross margin declined due to higher cost of raw materials and manufacturing expenses, but its net finance income improved due to increased interest income and lower interest expenses.

Looking ahead, analysts expect NASCON to remain profitable in 2025, driven by robust revenue growth and anticipated reduction in inflation and currency pressures.