• About
  • Advertise
  • Contact
Friday, October 3, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Business

NASCON Grows Turnover By 37%, Assures Shareholders Of Continuous Growth, Value Creation

...approves bonus shares for shareholders

Vital News by Vital News
May 23, 2024
in Business
0
NASCON Grows Turnover By 37%, Assures Shareholders Of Continuous Growth, Value Creation
Share on FacebookShare on Twitter

NASCON Allied Industries Plc has assured its shareholders of continuous growth and value creation in 2024.

The Company gave the assurance at its 2023 Annual General Meeting held in Lagos on Thursday.

Speaking to shareholders, the Chairperson of NASCON, Yemisi Ayeni said : “amidst the challenges in 2023, the Company achieved commendable operational performance.

“Our strategic initiatives and proactive measures enabled us to grow in value and profitability.

“Our turnover for the financial year ended December 31, 2023, grew 37 per cent to N80.8 billion, marking a significant increase from the previous year.

RelatedStories

Dangote Refinery Reviving Moribund Companies In Nigeria – Manufacturers

SON Commends Dangote Cement For Achieving Excellence In Nigeria’s Manufacturing Sector

Dangote Cement, Obajana, Secures IMS Certification, Raises Standard In Manufacturing

President Tinubu Commiserates With Families Of Victims Of Afriland Towers Fire Incident

“Profit after Tax also saw an impressive growth of 151 per cent to N13.7 billion, reflecting our commitment to operational efficiency and excellence.”

On future plans, Ayeni stated that “as we look ahead, NASCON remains focused on its commitment to health, safety, and environmental sustainability.

“Despite ongoing challenges in the global and national landscape, we are optimistic about the prospects of our company.

“The Board and Management are steadfast in our dedication to driving continued growth and innovation while maintaining a steadfast commitment to our stakeholders and communities.”

DSC4195: Chief Financial Officer, NASCON Allied Industries Plc, Aderemi Saka; Non-Executive Director, NASCON Allied Industries Plc, Sada Ladan-Baki; Non-Executive Director, NASCON Allied Industries Plc, Olakunle Alake; Non-Executive Director, NASCON Allied Industries Plc, Fatima Wali-Abdurrahman; Managing Director, NASCON Allied Industries Plc, Thabo Mabe; Chairperson, NASCON Allied Industries Plc; ‘Yemisi Ayeni; Non-Executive Director, NASCON Allied Industries Plc, Abdu Dantata; Independent Non-Executive Director, NASCON Allied Industries Plc, Prof. Chris Ogbechie; Non-Executive Director, NASCON Allied Industries Plc, Knut Ulvmoen; Company Secretary, NASCON Allied Industries Plc, Adedayo Samuel, at the 2023 Annual General Meeting (AGM) of NASCON Allied Industries Plc on Thursday, May 23, 2024 in Lagos.

The Managing Director of NASCON, Thabo Mabe noted that in 2023, the company faced significant business challenges amid Nigeria’s economic challenges, characterised by deteriorating macroeconomic indicators compared to the previous year.

He added that despite the formidable challenges faced in 2023, NASCON remained steadfast in its commitment to stakeholders, prioritising their well-being and maintaining integrity and compliance in all endeavours.

“In positioning NASCON for sustained growth while maintaining profitability, we have outlined a multifaceted strategy that leverages our strengths, embraces innovation, and prioritises efficiency.

“By identifying emerging trends and consumer preferences, we can capitalise on untapped opportunities for growth while mitigating risks associated with market saturation.

“Through continuous process optimisation and strategic resource allocation, we seek to enhance productivity and reduce costs, thereby bolstering our bottom line and ensuring long-term sustainability.

“Also, strategic partnerships and collaborations play a pivotal role in our growth strategy.

“By forging alliances with industry peers, suppliers, distributors, and other stakeholders, we can access new markets, technologies, and resources that complement our core competencies.

“Through mutually beneficial partnerships, we can accelerate market expansion, drive innovation, and unlock new revenue streams.

“By aligning our strategic initiatives with our mission and vision, we aim to create sustainable value for all stakeholders while contributing to economic development of the communities in which we operate,” he added.

Some of the shareholders who spoke at the meeting commended the management and board of NASCON for the performance and bonus declared during the financial year review.

They approved and authorised the Directors to capitalise such sufficient sums from the amount available for distribution, to members in the proportion of one new ordinary share of 50 kobo for every 50 existing ordinary shares of 50 kobo.

Speaking on behalf of the shareholders, Mrs. Shopeju said that “we commended the management for the company performance in 2023.

“The bonus declared is commendable also.”

She urged the Company to do more in 2024, saying, “going forward, we expect better dividends in 2024 and robust bottom line for the Company.”
(vitalnewsngr.com)

 

 

 

 

 

Tags: bonusdividendNASCONshares
Previous Post

Ododo Announces Plan To Rehabilitate 70 Primary Health Care Centres In Kogi

Next Post

5 Years On : Gov Abiodun – An Epitome Of Accountability, Purposeful Leadership By Lekan Adeniran

Vital News

Vital News

RelatedStories

Dangote Spends N720bln To Acquire 4,000 CNG Trucks, Begins Free Distribution Of Fuel August 15
Business

Dangote Refinery Reviving Moribund Companies In Nigeria – Manufacturers

September 24, 2025
Dangote Cement Set To Commission 3Mta Grinding Plant In Côte d’Ivoire
Business

SON Commends Dangote Cement For Achieving Excellence In Nigeria’s Manufacturing Sector

September 23, 2025
Dangote Cement, Obajana, Secures IMS Certification, Raises Standard In Manufacturing
Business

Dangote Cement, Obajana, Secures IMS Certification, Raises Standard In Manufacturing

September 22, 2025
C-ISOWN Praises President Tinubu On Credible Delivery Of Social Welfare Programmes, Achievements In Nigeria
Business

President Tinubu Commiserates With Families Of Victims Of Afriland Towers Fire Incident

September 18, 2025
Dangote Industries Ltd. Expresses Readiness To Sponsor 2025 Abuja Trade Fair
Business

Dangote Industries Ltd. Expresses Readiness To Sponsor 2025 Abuja Trade Fair

September 15, 2025
Next Post
Ogun Govt Disowns Online Cash Palliative Message

5 Years On : Gov Abiodun - An Epitome Of Accountability, Purposeful Leadership By Lekan Adeniran

5 Die, 3 Injured In Kogi Auto Crash

5 Die, 3 Injured In Kogi Auto Crash

Former UI Vice Chancellor, Prof. Ayo Banjo, Dies At 90

Former UI Vice Chancellor, Prof. Ayo Banjo, Dies At 90

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Egypt showcases $30bn new administrative capital

3 years ago
Ododo Congratulates Ilebaye Odiniya On Emerging Winner Of Big Brother Naija

Ododo Congratulates Ilebaye Odiniya On Emerging Winner Of Big Brother Naija

2 years ago
Ayu, PDP National Chairman Suspended For Anti-party, Failure To Pay Dues

Benue PDP Suspends Ward Exco Over Ayu’s Ordeal

3 years ago
New Year : Governor Ododo’s Parents Visit Former Governor Yahaya Bello

New Year : Governor Ododo’s Parents Visit Former Governor Yahaya Bello

9 months ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu
No Result
View All Result

Highlights

Engineer Urges Nigeria To Invest In Aerospace Technology To Tackle Insecurity, Modernise Aviation

Bandits Kidnap Police Officer In Kwara

Death Toll In Ibaji Boat Mishap Rises To 36

Arrest of 147 Terrorists In One Week, Confirms Tinubu Is Boosting Troops’ Morale – Group ‎

Fubara Sacks Commissioners, SSG, SAs, SSAs

2027 : Group Holds Awareness Walk In Kogi, Reaffirms Commitment To Vision, Leadership Of President Tinubu

Trending

Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From  October 29
News

Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From October 29

by Vital News
October 2, 2025
0

The Kogi State Government says it will commence strict enforcement of ban on Zariagi, Osara and other...

Realnews Announces Theme, Date For It’s 13th Anniversary Lecture

October 2, 2025
Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji,  For Hard Work, Dedication

Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji, For Hard Work, Dedication

October 2, 2025
FG Cancels Independence Anniversary Parade

Engineer Urges Nigeria To Invest In Aerospace Technology To Tackle Insecurity, Modernise Aviation

October 2, 2025
Police Begin Manhunt For Killers Of Three Officers, Two Vigilante In Kogi

Bandits Kidnap Police Officer In Kwara

October 2, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From October 29 October 2, 2025
  • Realnews Announces Theme, Date For It’s 13th Anniversary Lecture October 2, 2025
  • Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji, For Hard Work, Dedication October 2, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In