NASCON Allied Industries Plc (NGX: NASCON) revenue rose by 43% in the first half of the year while the profit after tax increased by just 5.84%, according to the Unaudited Financial Statements for the interim period ended 30 June 2022 released by the company.
Financial highlights:
Revenue jumped to N25.13 billion from N17.57 billion in H1 2021.
Gross profit rose to N8.37 billion from N6.94 billion in H1 2021.
More than half of the company’s gross profit went into distribution cost which increased to N5 billion from N3.29 in H1 2021.
The company’s finance cost jumped to N222.14 million in H1 2022 from N25.2 million in H1 2021.
A profit after tax of N1.54 billion was reported, up from N1.45 billion posted in H1 2021.
The earnings per share rose to 116 kobo in H1 2022 from 109 kobo in H1 2022.
- Read also: H1 2022: Cadbury Nigeria Plc reports 554% growth in profit
- CAP Plc posts 78% YoY growth in Profit After Tax in H1 2022
The company’s total assets rose to N49.34 billion as at June 30, 2022 from N40.52 billion as at December 31, 2021.
Major components of the assets are:
- Property, plant and equipment: N13.74 billion
- Trade and other receivables: N11.21 billion
- Cash and cash equivalents: N10.29 billion
- Inventories: N7.71 billion.
The company’s total liabilities stood at N34.24 billion as at June 30, 2022, up from N32.55 billion as at December 31, 2021.
Major components of the liabilities are:
- Trade and other payables: N23.91 billion
- Borrowings: N3.41 billion.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
