NASCON Allied Industries Plc returned N16.21 billion to shareholders in the first half of 2026 as the salt and seasoning producer posted a 25.7 percent increase in profit after tax.
The company paid N16.21 billion in dividends during the six months ended June 30, 2026, while retaining sufficient earnings to strengthen shareholders’ funds, according to its unaudited financial statements.
Retained earnings stood at N72.78 billion at the end of June, up from N69.39 billion at the beginning of the year despite the dividend payment.
Profit after tax rose to N19.60 billion in the first half of the year from N15.60 billion recorded in the corresponding period of 2025, supported by stronger operating performance and a sharp rise in finance income.
Earnings per share also increased to 1,451 kobo from 1,154 kobo a year earlier.
The company’s revenue grew modestly to N81.16 billion from N78.16 billion in the comparable period, while gross profit improved to N40.81 billion from N37.39 billion.
Operating profit increased to N24.53 billion from N21.33 billion, reflecting improved profitability despite persistent operating costs.
Finance income more than doubled to N5.35 billion from N2.37 billion in the first half of last year, providing an additional boost to earnings. Finance costs, however, declined to N171.61 million from N413.13 million over the same period.
The company maintained a strong liquidity position during the period, with cash and cash equivalents rising to N46.05 billion as of June 30, 2026, from N41.63 billion at the end of December 2025, despite paying out more than N16 billion in dividends.
Shareholders’ equity increased to N74.57 billion at the end of June from N71.18 billion at the beginning of the year, driven by earnings retained after the dividend distribution.
The company’s total assets also expanded to N161.56 billion from N135.27 billion at the end of December 2025.
