• Home
  • About Us
  • Contact Us
Saturday, August 23, 2025
Star Lite News
  • Home
  • News
    • All
    • Business
    Natasha Akpoti-Uduaghan

    “My Suspension Was Fraudulent” – Natasha Akpoti-Uduaghan Challenges Akpabio, Denied Access to NASS

    SunTrust Bank

    $12M Money Laundering Trial: SunTrust Bank MD Halima Buba, Executive Face EFCC Witness Testimony in Court

    Buhari

    National Tribute: Public Holiday Declared in Memory of Buhari’s Service to Nigeria

    Okpebholo

    Governor Okpebolo Floors PDP At The Supreme Court

    NYSC

    NYSC Sanctions Corps Member Raye Over Criticism of President Tinubu, Sparks Outrage

    Suspension

    Benue Governor Alia Suspends Chief Press Secretary Indefinitely

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Chief Kanran

    Legendary Actor Segun Remi, Aka Chief Kanran, Passes On

    Tom Njemanze

    Nollywood Loses Another Legend: Tom Njemanze Passes Away

    Mike Ejeagha

    ‘Gwogwogwo’ Music Legend Mike Ejeagha, Dies At 95 After Battling Prostate Cancer For 16 Years

    AMVCA

    AMVCA 2025 Awards: Full List Of Winners As Chioma Chukwuka, Femi Adebayo Win Best Actress, Actor

    Nathaniel Bassey

    Nigeria’s Gospel Music Maestro Nathaniel Bassey To Minister At Trump’s Inaugural Prayer Breakfast

    Doris Ogah

    Doris Ogah Becomes 45th Miss Nigeria

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
  • Home
  • News
    • All
    • Business
    Natasha Akpoti-Uduaghan

    “My Suspension Was Fraudulent” – Natasha Akpoti-Uduaghan Challenges Akpabio, Denied Access to NASS

    SunTrust Bank

    $12M Money Laundering Trial: SunTrust Bank MD Halima Buba, Executive Face EFCC Witness Testimony in Court

    Buhari

    National Tribute: Public Holiday Declared in Memory of Buhari’s Service to Nigeria

    Okpebholo

    Governor Okpebolo Floors PDP At The Supreme Court

    NYSC

    NYSC Sanctions Corps Member Raye Over Criticism of President Tinubu, Sparks Outrage

    Suspension

    Benue Governor Alia Suspends Chief Press Secretary Indefinitely

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Chief Kanran

    Legendary Actor Segun Remi, Aka Chief Kanran, Passes On

    Tom Njemanze

    Nollywood Loses Another Legend: Tom Njemanze Passes Away

    Mike Ejeagha

    ‘Gwogwogwo’ Music Legend Mike Ejeagha, Dies At 95 After Battling Prostate Cancer For 16 Years

    AMVCA

    AMVCA 2025 Awards: Full List Of Winners As Chioma Chukwuka, Femi Adebayo Win Best Actress, Actor

    Nathaniel Bassey

    Nigeria’s Gospel Music Maestro Nathaniel Bassey To Minister At Trump’s Inaugural Prayer Breakfast

    Doris Ogah

    Doris Ogah Becomes 45th Miss Nigeria

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
Star Lite News
No Result
View All Result
Home Business

2024: Operational Efficiency, Strategic Initiatives Behind NASCON’s Impressive Performance

…as Shareholders approve N2 Per Share Dividend

starliteadmin by starliteadmin
May 8, 2025
in Business
0
NASCON
0
SHARES
0
VIEWS
Share on FacebookShare on WhatsAppShare on Twitter

NASCON Allied Industries Plc, has reaffirmed its dedication to driving growth through innovation, enhancing operational efficiency, and creating value for shareholders. This commitment was emphasized during the company’s 2024 Annual General Meeting, held in Lagos.

During the meeting, shareholders approved a dividend payout of N2 per share for the year ending December 31, 2024 just as the Chairman of the Company, Olakunle Alake identified operational efficiency and strategic initiatives as core elements behind the company’s impressive run during the year.

Alake, while addressing shareholders said, “Our performance has been commendable, a testament to our strategic initiatives, operational efficiencies, and the dedication of our workforce. We have successfully expanded our market presence, which has been instrumental in driving sales. Our continued focus on customer satisfaction and our commitment to delivering high-quality products have allowed us to gain new customers while retaining the loyalty of existing ones.”

He added, “During the year, we adopted several strategic initiatives aimed at enabling the Company to take advantage of growth opportunities. We demonstrated our commitment to sustainability by encouraging responsible resource use. We also engaged in community development efforts, alongside numerous employee welfare and development programs. These efforts reflect our ongoing commitment to value creation for all our stakeholders.”

Alake noted, “In recognition of this positive performance and our commitment to delivering value to our shareholders, we recommend the highest dividend ever declared in our company’s history. This decision reflects our confidence in the company’s prospects and aims to reward our shareholders for their continued support.”

He emphasized that as the company moves into the next year, the primary focus will remain on driving growth through innovation, enhancing operational efficiency, and delivering value to stakeholders noting that the management of NASCON is committed to investing in our people and in technology. “We will continue to explore new market opportunities to expand our footprint.”, he stated.

Managing Director of NASCON, Thabo Mabe, commented that 2024 has been exceptionally positive for the company, stating, “We achieved a profit growth of 14 per cent to N15.6 billion, thanks to strong demand for our core products and our strategic market presence.”

Mabe said; “We optimized strategic opportunities that have positioned us for continued growth. Our operational efficiencies have improved, enhancing our overall profitability.” For the year 2025, he outlined the primary goals, including continuing the revenue growth trajectory, expanding into new markets, and enhancing product lines. He concluded by stating, “We will further invest in our sustainability initiatives and aim to reduce carbon emissions. Our workforce development programs will also continue, focusing on upskilling and fostering a culture of innovation.”

For the year ending December 31, 2024, the company reported revenue growth of 49 per cent, reaching N120.4 billion. Gross profit increased by 25 per cent to N55.5 billion, while EBITDA rose by 19 per cent to N27.4 billion. Profit before tax grew by 15 per cent to N23.7 billion, and profit after tax increased by 14 per cent to N15.6 billion. Earnings per share climbed by 11 per cent to N5.77, with a proposed dividend up by 100 per cent to N2.00.

Commenting one after another on the performance of the Company, shareholders commended the company for its impressive financial performance in 2024 and the declared dividend of N2 per share.

Mrs. Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association, praised the company’s remarkable financial achievements. She noted, “We observed revenue growth of 48.94 per cent to N129.39 billion, up from N18.8 billion. Despite the macroeconomic challenges we faced, profit after tax reached N15.6 billion, up from N13.7 billion. I commend the entire board and management for this outstanding result. Additionally, I appreciate the board for declaring a dividend of N2.00. We thank the board for that, and we hope for increased dividends next year.”

Another shareholder, Dr. Umar Farouk urged the management not to rest on its oars but continue in the commendable trajectory of good performance despite the economic headwind which affected a lot of other companies negatively.

Mr. Moses Igbrude, a shareholder, also praised the company for the N2.00 per share dividend and expressed the hope that the management would do even more next year.

New Deputy Managing-Director of the Company, Aderemi Saka expressed satisfaction that the company demonstrated resilience, with remarkable revenue and strong performance in spite of the fact that the year 2024 was marked with various macroeconomic challenges.

“We maintain our market share and increase our revenue. We will keep our head up, continue to provide quality products that stand the test of time and improve on our shareholders value so that we can remain a strong contender in the market.”, Saka stated.

L-R, Company Secretary, NASCON Allied Industries Plc, Oluseun Oluwole; Chairman, NASCON Allied Industries Plc, Olakunle Alake, Managing Director, NASCON Allied Industries Plc, Thabo Mabe; Deputy Managing Director, NASCON Allied Industries Plc, Aderemi Saka; and Non-Executive Director, NASCON Allied Industries Plc, Abdu Dantata, at the 2024 Annual General Meeting (AGM) of NASCON Allied Industries Plc held in Lagos on Thursday May 8, 2025.

 L-R: Company Secretary, NASCON Allied Industries Plc, Oluseun Oluwole; Chairman, NASCON Allied Industries Plc, Olakunle Alake, Managing Director, NASCON Allied Industries Plc, Thabo Mabe; Deputy Managing Director, NASCON Allied Industries Plc, Aderemi Saka; and Non-Executive Director, NASCON Allied Industries Plc, Abdu Dantata, at the 2024 Annual General Meeting (AGM) of NASCON Allied Industries Plc held in Lagos on Thursday May 8, 2025.

DSC 1666, L-R, Non- Executive Director, NASCON Allied Industries Plc, Sada Ladan- Baki; Non-Executive Director, NASCON Allied Industries Plc, Fatima Wali Abdulrrahhman; Managing director NASCON Allied Industries Plc, Thabo Mabe; Company Secretary, NASCON Allied Industries Plc, Oluseun Oluwole; Chairman, NASCON Allied Industries Plc, Olakunle Alake; Deputy Managing Director, NASCON Allied Industries Plc, Aderemi Saka; Non-Executive Director, NASCON Allied Industries Plc, Abdu Dantata and Non-Executive Director, NASCON Allied Industries Plc, Knut Ulvmoen, at the 2024 Annual General Meeting (AGM) of NASCON Allied Industries Plc held in Lagos on Thursday May 8, 2025.

Tags: 2024 Annual General MeetingAderemi SakaChairman of the CompanyManaging Director of NASCONMrs. Bisi BakareNASCON Allied Industries PlcNational Coordinator of the Pragmatic Shareholders AssociationNew Deputy Managing-Director of the CompanyOlakunle AlakeStarlitenewsThabo Mabe
Previous Post

Yemisi Shyllon Museum of Art and Toledo Museum of Art Launch Historic Cultural Exchange to Boost Museum Expertise and Global Access

Next Post

All Hail The New Pope: Robert Francis Prevost Of US

starliteadmin

starliteadmin

Related Posts

Dangote Cement Plc

Dangote Cement Re-trains Hundreds of Truck Drivers to Boost operational efficiency

by starliteadmin
August 22, 2025
0

Management of Dangote Cement Plc (DCP) has expressed its irrevocable commitment to training and constant retraining of its truck drivers...

Zenith Bank

ZENITH BANK MARKS 35 YEARS ANNIVERSARY, CELEBRATES PIONEER CUSTOMERS AND LONG-SERVING STAFF

by starliteadmin
August 18, 2025
0

Amidst pomp and pageantry layered with a mixture of glitz and glamour, Zenith Bank Plc marked its 35th year anniversary...

EcoBank

Ecobank’s InnovateX Challenge Awards ₦20 Million to Young Nigerian Changemakers

by starliteadmin
August 15, 2025
0

Kola Adeleke, Executive Director of Commercial and Consumer Banking at Ecobank Nigeria, has stated that the InnovateX Challenge was created...

Dangote Refinery

Dangote Refinery Reduces Petrol Price to ₦820, Rolls Out 4,000 CNG Trucks

by starliteadmin
August 12, 2025
0

In a move aimed at easing fuel costs and promoting cleaner energy distribution, Dangote Petroleum Refinery has slashed the ex-depot...

Dangote Cement

Minister Extols Dangote Cement, Seeks Partnership To Bridge Housing Gap

by starliteadmin
July 30, 2025
0

Minister of Housing and Urban Development, Ahmed Musa Dangiwa, has lauded the Dangote Cement Plc for its contributions to the...

Dangote Cement

FOOD PRODUCTION: MINISTER LAUDS DANGOTE CEMENT OVER FARMERS’ EMPOWERMENT

by starliteadmin
July 25, 2025
0

Minister of Solid Mineral Development, Mr. Dele Alake has lauded the management of Dangote Cement, Ibese for its contributions to...

Next Post
Robert Francis Prevost

All Hail The New Pope: Robert Francis Prevost Of US

Leave a Reply Cancel reply

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

Popular Posts

  • Tinubu and Timothy

    Prince Chukwudi Timothy Appeals For Dialogue Instead Of Nationwide Protest

    0 shares
    Share 0 Tweet 0
  • Peter Obi says victory of Christ the King College at World Affairs Challenge heartwarming

    0 shares
    Share 0 Tweet 0
  • Family reveals Ifeanyi Ubah’s burial date

    0 shares
    Share 0 Tweet 0
  • ACEACRES24: Akmodel MD Makes Presentations At The 2Days Event (Photos)

    0 shares
    Share 0 Tweet 0
  • Legends of Nollywood Financial Summit Is Here, Meet The Speakers: Apostle Anselm Madubuko, Mrs. Bukola Agbaminoja, Pst. Moji Bakare Asieru-sweet, Others

    0 shares
    Share 0 Tweet 0

Recent Posts

  • Dangote Cement Re-trains Hundreds of Truck Drivers to Boost operational efficiency
  • Fidelity Bank Restores International Transactions on Naira Debit Cards with Added Travel Benefits
  • ZENITH BANK MARKS 35 YEARS ANNIVERSARY, CELEBRATES PIONEER CUSTOMERS AND LONG-SERVING STAFF
  • Rising Star OfficialJaceBen Balances Music, Sports, and Studies Ahead of New Release
  • Nollywood Producers’ Summit 2025 Charts New Path for Film Financing, Digital Growth & Global Collaboration (Photos)
Starlite news icon

Browse by Category

Archives

  • Home
  • About Us
  • Contact Us

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

No Result
View All Result
  • Contact Us
  • About Us
  • Business
  • Politics
  • World
  • Entertainment
  • Lifestyle

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

  • https://starlitenews.com.ng/2024/03/29/binance-executives-sue-nsa-efcc-over-rights-violation/
  • https://starlitenews.com.ng/2024/05/24/acheter-clomid-pas-cher-en-belgique/
  • https://starlitenews.com.ng/2024/05/28/commander-gabapentine-en-ligne/
  • https://starlitenews.com.ng/2024/11/13/govts-support-for-dangote-refinery-will-encourage-further-investments-in-downstream-man/