NASCON Allied Industries Plc has released its unaudited Q3 2024 financials, reporting a decline in standalone earnings per share (EPS) to NGN6.09.

The company’s revenue grew by 40.6% year-on-year, driven by strategic price increases and aggressive volume drive in the North.

However, gross margin fell by 18.89 percentage points to 44.9% due to a substantial increase in cost of sales.

EBITDA and EBIT margins declined to 23.8% and 21.9%, respectively, as operating expenses rose.

Net finance cost declined by 86.3% year-on-year.

Profit before tax declined by 12.2% year-on-year to NGN6.41 billion.

Profit after tax fell by 14.5% year-on-year to NGN4.11 billion.

Analysts expect NASCON to sustain strong revenue momentum but face ongoing margin pressures.