NASCON Posted N27bn in 2019 Audited Full Year Report

The 2019 audited reports for full year ended December 31, 2019 of Nascon Allied Industries plc revealed an improvement of 6.67% in topline figures to close the period at N27.4billion away from N25.7billion reported same period the previous year in 2018.

The company’s financial reports which hit the market today, 24th March, 2020 showed a decline of about 57% in Profit before Tax to N2.7billion, way from N6.4billion recorded in 2018.

The profit after tax for the period under review also dropped from N4.4billion in 2018 to N1.8billion in the current report, implying 58.25% decline in (PAT).

The earnings per share consequently dropped by 58.00%, from  167kobo of 2018 to 70kobo in the period under review.

The PE Ratio for the current full year stands at 13.50x and the earnings yield at 7.41%.

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