NLNG Corporate Caring banner FirstGem 3rd anniversay lecture Fidelity bank card banner Emerald Energy Institute Camano banner

Giant leap for NASCON: Dangote subsidiary posts N13 billion turnover

By News Express on 07/06/2013

Gmail icon

Views: 3,300

National Salt Company of Nigeria (NASCON), a member of the Dangote Group, has declared its financial results for the year ended December 31, 2012, posting an impressive turnover of N13 billion, indicating a 30 percent growth over its 2011 financial performance.

Alhaji Aliko Dangote, NASCON Chairman and President/CEO of Dangote Group, disclosed this during the company’s 2012 Annual General Meeting, held yesterday at Muson Centre, Lagos, South-West Nigeria. He also revealed that NASCON’s operating profit before tax stood at N4 billion while profit after tax was N2.8 billion, showing growth of 25 per cent over 2011 results.

Shareholders who turned up in overwhelming numbers for the AGM were full of praises for the management and Board of NASCON for the remarkable financial performance.

They approved the payment of 90 kobo as dividend for every 50 kobo ordinary share held and described the company’s total dividend payout of N2.35billion as acceptable despite mounting challenges facing the industry.

Dangote in his speech at the event lamented challenges facing the industry such as infrastructure inadequacies, energy issues, uncoordinated tax administration, among others, that have largely impacted the manufacturing sector from reaching its full potential. He expressed happiness that NASCON was able to record a good financial performance despite these difficulties.

The NASCON Chairman assured shareholders of better prospect in 2013 with the commitment of the board and the management to sustaining its leadership in the sector and also expanding investments into other businesses including – seasoning, vegetable oil refining and tomato paste packaging.

Shareholders lauded the business expansion initiative, which is in line with the company’s vision and strategic intent of becoming the frontline foods’ business in Nigeria and is to be completed by the end of 2013 financial year.

Dangote on behalf of management and the board expressed sincere gratitude to shareholders for their unflinching support and assured them of a more rewarding future in years to come.

Photo shows Company Chairman, Alhaji Aliko Dangote.

Source News Express

Posted 07/06/2013 5:41:29 PM





You may also like...
FEC approves change of name for Ministry of...

Nigerian Society of Engineers poised to end building...

INEC asks court to set aside interim order...

Nigeria, UAE agreement on stolen assets takes off...

Supreme Court’s judgement: Nigeria must now ‘move on’,...

Lagos to crush over 4,000 impounded 'okada' •Plans...

Aisha Buhari hosts kids at Eid-el Fitri, promises...

Ohanaeze strategises for Igbo president

Lagos begins implementation of new education policy

Building confidence in Nigeria’s tough e-commerce market

Sharia police to arrest adults eating in public...

Nigerians shall not live on rice alone, By...


Latest News 10 shot at California party; 4 dead, 6 injured BREAKING: INEC declares APC’s David Lyon winner of Bayelsa Governorship Election Dino Melaye, Smart Adeyemi to fight again, as Kogi West Senatorial Rerun is declared inconclusive Lion discovered at residential building in Lagos Bayelsa Guber: PDP’s Diri accuses Army of conniving with APC to rig poll Lagos seals mosques, churches over noise pollution Kogi Guber: PDP asks INEC to cancel over 100,000 votes ‘awarded’ to Yahaya Bello Diesel truck cashes into lorry conveying goods in Anambra Soldiers arrest Ogbia LG Chairman, lawmaker YIAGA Africa calls on INEC to conduct fresh governorship, senatorial elections in Kogi Kogi West election rerun: Melaye rejects results, describes poll as ‘helicopter election’ Bayelsa Guber: Democracy Watch Nigeria calls for cancellation of election results


Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (563,364 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (452,581 views) Shameless Genevieve Nnaji exposes breasts in public (401,769 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (336,215 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (303,890 views) 10 cars more expensive than Jets (281,749 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (258,963 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (257,204 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (238,735 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (225,121 views) Lagos plane crash: Journalist releases victims’ names (201,595 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (198,231 views)


CBN milk production

CBN banner advert

UBA Wise Savers Promo


Categories Advertorials (3) African Press Organisation (81) Art & Literature (109) Business & Economy (4,575) Business Verdict (86) Columnists (1,144) Complaints & Requests (97) Enterprise & Opportunities (219) Entertainment (704) Features (845) Global Business Monitor (493) ICT Monitor (67) International (4,216) Interview (211) Live Commentary (30) Love Matters (176) Maggie's Blog (486) News (54,065) Opinion (1,420) Pidgin (17) Politics (11,763) Religion (1,121) Sports (2,227) Stock Watch (39) AMA & Al Jazeera Global Update







APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera