Nascon Allied achieves 23.4% growth in half year profit

Nascon Allied Industries Plc has posted a Profit After Tax (PAT) of N1.3 billion, representing a 23.4 percent growth from N1.0 billion posted as PAT one year ago.

The company’s financial statement for half year ended 30th June 2016 showed that profit was buoyed by a 30 percent increase in revenue to N8.6 billion from N6.6 billion in the same period of 2015 and a significant increase in investment income, which grew by 4,272.5 percent to N11.3 million from N258,000 recorded in 2015.

Profit before tax stood at N1.9 billion growing 23 percent from N1.5 billion in 2015, improving earnings per share to 96 kobo from 78 kobo per share.