NASCON s half-year profit drops despite N3 billion revenue jump premiumtimesng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from premiumtimesng.com Daily Mail and Mail on Sunday newspapers.
Salt maker NASCON posts biggest profit jump in three years as cost falls
NASCON, a member of the Dangote Group, also produces tomato paste, seasoning and vegetable oil.
ADVERTISEMENT
NASCON Allied Industries Plc scaled up its profit for 2020 by as much as 45.8 per cent even though its gross sales marginally grew by 1.9 per cent to N28 billion.
The sales triggered the company’s sharpest jump in profit since 2017, as management sought ways to cut costs.
The cost of producing goods came to N16.5 billion from N21.7 billion, down by 24 per cent in 12 months, the audited financials of the food processor showed on Saturday.