Aliko Dangote to earn more dividends as Nascon grows profits by over 500% in 3 months

• Dangote Group is seeing much of its subsidiaries study awesome fiscal show for 2024
• Nascon Allied Industries Plc, which is 62% owned by the Dangote Group, has reported much than 500% maturation successful profit
• The archetypal 4th study shows that shareholders could gain importantly much returns this year, compared to past years

Legit.ng writer Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful business reporting crossed integer and mainstream media.

One of the companies belonging to the Dangote Group Limited, Nascon Allied Industries Plc, has announced an awesome 77% gross maturation successful the archetypal 4th of 2025.

The company’s gross successful the 4th came up to N41.9 billion, an awesome 77% maturation from the N23.6 cardinal reported successful Q1, 2024.

The company’s unaudited fiscal connection precocious filed connected the Nigerian Exchange Limited (NGX) reveals a akin 60% maturation successful gross nett from N11.2 cardinal to N17.9 billion.

Aliko Dangote is president of the Dangote Group, which owns controlling stakes successful Nascon Allied. Photo credit: Dangote group
Source: Getty Images

Operating expenses accrued somewhat from N4.99 cardinal to N5.12 billion, portion the outgo of income went from N12.46 cardinal successful Q1 2024 to N23.96 cardinal successful Q1 2025.

Administrative expenses besides accrued from N1.43 cardinal successful Q1 2024 to N2.06 cardinal successful Q1 2025, owed to large investments made into quality resources and technology.

Operating nett grows by 585%

Nascon besides reported a large surge successful its operating profit, increasing from N1.78 cardinal successful Q1 2024 to N10.42 cardinal successful Q1 2025, the PUNCH reports.

This reflects a crisp maturation successful the company’s quality to person its gross into earnings, and effect costs power measures to amended efficiency.

The institution besides posted a large maturation successful Profit earlier Tax, from N1.84 cardinal successful Q1 2024 to N11.31 cardinal successful Q1 2025, portion Profit aft taxation besides grew from N1.23 cardinal to N7.58 cardinal successful some periods.

The accrued profits besides amusement successful its taxes, wherever the institution went from paying N606.87 cardinal successful Q1 2024 to N3.73 cardinal successful Q1 2025.

Dangote group, different shareholders to gain more

Retained net besides grew from N26.95 cardinal arsenic of Q1 2024 to N48.85 cardinal by the extremity of Q1 2025, portion full equity roseate from N28.7 cardinal to N50.63 billion.

Nascon Allied Industries is wide successful a amended fiscal presumption with assets up from N84.8 cardinal to N90.8 billion; and liabilities down from N56.1 cardinal to N40.18 cardinal by extremity of Q1 2025.

Borrowings reduced from N3.93 cardinal to N1.11 cardinal successful 2025, portion the institution earned higher interests from its investments astatine N1l1 cardinal up from N418.7 cardinal successful 2024.

The study declared basal and diluted net per stock up from N1.86k successful Q1 2024 to N3.74k successful 2025, showing accrued profitability.

As the Dangote Group owns astir 62% shares successful the company, this translates into much net for the radical successful 2025, to mean earlier losses reported.

Recall that plans to merge NASCON with Dangote Sugar Refinery were suspended owed to regulatory issues.

The Dangote radical is raking successful profits from its respective subsidiaries and concern interests. Photo credit: contributor
Source: Getty Images

Nascon’s profits soar

Cashflow improved, and the institution invested N339.5 cardinal into purchasing equipment, works and property, and different N103.9 cardinal connected lease liabilities for the quarter.

Nascon besides paid astir N125.8 cardinal successful involvement connected money borrowed, portion repaid borrowings for the play came up to N1.72 billion.

Nascon earlier reported a 49% maturation successful gross for the 2024 fiscal year.

NASCON, others wage implicit N400 cardinal successful taxes

Legit.ng earlier reported that 3 of Dangote's companies, including Nascon, Dangote Cement and Dangote Packaging constricted paid implicit N400 cardinal taxes.

The taxes were pai successful the 2024 fiscal year, and makes Dangote Group 1 of Nigeria's highest taxation payers.

The radical is besides Nigeria's highest leader of labour successful the backstage sector, and crossed respective industries.

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Source: Legit.ng