WorldStage Newsonline– NASCON Allied Industries Plc, a company majorly owned by Dangote Industries Limited that is into processing of raw salt into refined, edible and grade salt has released its unaudited financial statements for the period ended September 30,2020 with 8.83% decline in revenue to N7.343 billion in third quarter (Q3) from N8.054 billion in Q3 2019.
However, the revenue for the nine months ended September 30,2020 was stronger at N21.873 billion from N21.029 billion in 2019.
The company’s profit for the Q3 2020 came at 40.18% gain at N801.9 million from N572.063 million in same quarter in 2019 while profit for the nine months ended September 30,2020 was also stronger at N2.29 billion from N2.022 billion in 2019.
Nascon Allied lndustries Plc (Formerly known as National Salt Company of Nigeria.) was incorporated in Nigeria as a limited liability company on 30 April 1973. lt was fully privatised in April, 1992 and became listed on the Nigerian Stock Exchange on 20 October, 1992. At a general meeting held on 29 September 2006, the shareholders approved the acquisition of the assets, liabilities and business undertakings of Dangote Salt Limited and the issue and allotment of additional NASCON PLC shares as the purchase consideration.
The major shareholder of the Company is Dangote Industries Limited that owns 62.190/o of the issued share capital, while the remaining 37.81% is held by the Nigerian public.
