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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text; matched to OCR text and compared cell by cell with the page image) (9 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

NASCON

NASCON · Nigerian Exchange · Company statements

On this page
Company details
Legal name
Nascon Allied Industries Plc
Listing
NASCON on the Nigerian Exchange, active · ISIN NGNASCON0005 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2024 · annual report, signed / final · source

Read with these figures

  • Auditor's emphasis of matter. No emphasis of matter or going-concern paragraph; 'We have determined that there are no key audit matters to communicate in our report' (PDF p20).
Full wording and sources

  • Auditor's emphasis of matter

    No emphasis of matter or going-concern paragraph; 'We have determined that there are no key audit matters to communicate in our report' (PDF p20).

    Source: Nascon Allied Industries Plc Annual report and financial statements for the year ended 31 December 2024 (dated 2025-03-03)

  • Revenue

    NGN 120 billion

    120,387,151 NGN thousands · p24

    +48.9% vs 2023

  • Operating profit / (loss)

    NGN 23.0 billion

    23,037,405 NGN thousands · p24

    +9.2% vs 2023

  • Profit / (loss) for the year

    NGN 15.6 billion

    15,583,602 NGN thousands · p24

    +13.5% vs 2023

  • Total assets

    NGN 78.5 billion

    78,502,487 NGN thousands · p25

    +19.5% vs 2023

  • Total equity

    NGN 43.1 billion

    43,055,460 NGN thousands · p25

    +56.7% vs 2023

  • Cash from operations

    NGN 4.16 billion

    4,164,628 NGN thousands · p27

    −79.2% vs 2023

Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2024 — annual report, signed / final; reported for the year · source
  • FY2023 — annual report, signed / final; comparative in the FY2024 filing · source

Income statement

Income statement, NGN thousands. Columns: FY2024 — annual report (signed / final), as reported for the year; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2024Annual reportreported for the yearFY2023Annual reportcomparative in FY2024 filing
Revenue from contracts with customers 120,387,151 80,828,373
Cost of sales (64,860,102) (36,509,587)
Gross profit 55,527,049 44,318,786
Other income 261,239 194,305
Other operating (losses)/gains1 (2,056,949) 267,500
(Increase in)/writeback of impairment allowance (87,305) 11,013
Distribution costs (23,678,460) (18,988,580)
Administrative expenses (6,928,169) (4,706,955)
Operating profit 23,037,405 21,096,069
Finance income 1,793,858 927,498
Finance cost (1,180,596) (1,435,308)
Profit before taxation 23,650,667 20,588,259
Taxation (8,067,065) (6,859,890)
Profit for the year 15,583,602 13,728,369
Other comprehensive income –2 –2
Total comprehensive income for the year 15,583,602 13,728,369
  1. Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Notes and alternative reported figures (1)
  1. “Other operating (losses)/gains” is an issuer-specific line, not mapped to a shared definition: Note 9.

Balance sheet

Balance sheet, NGN thousands. Columns: FY2024 — annual report (signed / final), as reported for the year; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2024Annual reportreported for the yearFY2023Annual reportcomparative in FY2024 filing
Property, plant and equipment 12,340,012 12,097,461
Right of use assets 3,741,027 4,124,988
Non-current assets (unlabelled subtotal) 16,081,039 16,222,449
Inventories 18,261,106 11,172,733
Trade and other receivables 17,223,440 9,803,774
Other financial assets1 635,901 725,307
Other assets 1,600,851 2,149,156
Cash and cash equivalents 24,700,150 25,612,894
Current assets (unlabelled subtotal) 62,421,448 49,463,864
Total Assets 78,502,487 65,686,313
Share capital 1,351,213 1,324,719
Share premium 434,037 434,037
Retained earnings 41,270,210 25,713,102
Equity (unlabelled subtotal) 43,055,460 27,471,858
Borrowings 38,570 38,570
Lease liabilities 3,517,756 3,893,818
Retirement benefit obligations 122,258 122,805
Deferred tax 5,431,277 2,405,190
Non-current liabilities (unlabelled subtotal) 9,109,861 6,460,383
Trade and other payables 12,744,083 13,025,844
Borrowings 2,821,656 5,494,099
Lease liabilities 385,461 297,214
Contract liabilities 5,509,920 6,341,007
Current tax payable 4,876,046 6,595,908
Current liabilities (unlabelled subtotal) 26,337,166 31,754,072
Total Liabilities 35,447,027 38,214,455
Total Equity and Liabilities 78,502,487 65,686,313
Notes and alternative reported figures (1)
  1. “Other financial assets” is an issuer-specific line, not mapped to a shared definition: Note 23.

Cash flow

Cash flow, NGN thousands. Columns: FY2024 — annual report (signed / final), as reported for the year; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2024Annual reportreported for the yearFY2023Annual reportcomparative in FY2024 filing
Cash generated from operations 10,926,015 23,164,998
Tax paid (6,760,840) (3,103,334)
Retirement benefit obligations paid1 (547) (10,366)
Net cash from operating activities 4,164,628 20,051,298
Purchase of property, plant and equipment (2,299,709) (1,878,247)
Proceeds from sale of property, plant and equipment 85,000 57,239
Lease prepayments recognised as right of use assets2 (141,457) (1,481)
Interest income 1,793,858 927,498
Net cash (used in) investing activities (562,308) (894,991)
Payment of borrowings (2,672,443) –3
Proceeds from borrowings –3 701,218
Dividends paid –3 (5,298,877)
Interest paid on borrowings (808,460) (1,045,374)
Payment on lease liabilities4 (736,161) (678,217)
Net cash (used in) financing activities (4,217,064) (6,321,250)
Total cash and cash equivalents movement for the year (614,744) 12,835,057
Cash and cash equivalents at the beginning of the year 25,612,894 13,006,210
Effect of exchange rate movement on cash balances (298,000) (228,373)
The total cash and cash equivalents at end of the year 24,700,150 25,612,894
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (3)
  1. “Retirement benefit obligations paid” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 32).
  2. “Lease prepayments recognised as right of use assets” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 20).
  3. “Payment on lease liabilities”: mapping to a shared definition is uncertain. Payments on lease liabilities as printed (not split into principal and interest).

Per share and shares

Per share and shares. Columns: FY2024 — annual report (signed / final), as reported for the year; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2024Annual reportreported for the yearFY2023Annual reportcomparative in FY2024 filing
Earnings / (loss) per share (per share)3 5.771 5.182
  1. Printed as 577 kobo; value converted to NGN at 100 kobo = 1 NGN.
  2. Printed as 518 kobo; value converted to NGN at 100 kobo = 1 NGN.
Notes and alternative reported figures (1)
  1. Earnings / (loss) per share: printed as “Basic and diluted earnings per share (kobo)”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2024 Dividends paid (cash flow statement) Dividends paid 0printed “–”, read as nil NGN thousands Annual report, p27
31 Dec 2023 Dividends paid (cash flow statement) Dividends paid (5,298,877) NGN thousands Annual report, p27

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Nascon Allied Industries Plc Annual report and financial statements for the year ended 31 December 2024

    Year ended 31 December 2024 · Annual report · signed / final

    Audit: PricewaterhouseCoopers, Lagos, unmodified opinion · signed

    Auditor's sign-off: Yinka Yusuf, Engagement Partner, for PricewaterhouseCoopers

    Final status: Independent auditor's report closes with the handwritten signature 'Yinka Yusuf' above 'For: PricewaterhouseCoopers, Chartered Accountants, Lagos, Nigeria', 'Engagement Partner: Yinka Yusuf, FRC/2013/PRO/ICAN/004/00000005161', the ICAN seal and '3 March 2025' (PDF p23, page image). The statement of financial position states approval by the Board on 26 February 2025 and carries the signatures of the Interim Chairman, the Managing Director and the Financial Controller (PDF p25, page image).

    Document date
    3 Mar 2025
    Published
    4 Mar 2025
    Auditor's report
    3 Mar 2025
    Board approval
    26 Feb 2025
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2024, FY2023
    Basis
    company statements · NGN thousands (printed “N '000”)
    • Non-current assets, current assets, equity, non-current and current liabilities totals are unlabelled (p25). Interest received is presented in investing activities and interest paid in financing activities (p27).
    Technical details
    File
    72 pages, with a text layer
    SHA-256
    fe44808bdbc665069c6faedc4e4b6261232475638e6cc3f4aad88ffddb30b791
    Entity as printed
    Nascon Allied Industries Plc ("the company"); FRC/2012/0000000000478
    Exchange copy
    retrieved 2026-10-08T18:04:51Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text; matched to OCR text and compared cell by cell with the page image) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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