Nascon Allied Industries Plc has reported a profit after tax of ₦15.6 billion for the half year ended June 30, 2025 a staggering 222 per cent increase from the ₦4.8 billion recorded in the same period of 2024.

According to the company’s unaudited financial statements released on Monday, the impressive performance was underpinned by a 55 per cent rise in revenue, which climbed to ₦78.2 billion from ₦50.4 billion last year, driven by strong product demand and expanded operations.

Operating profit surged by 196 per cent to ₦21.3 billion, up from ₦7.2 billion, while profit before tax rose to ₦23.3 billion more than triple the ₦7.2 billion posted in the first half of 2024.

Earnings per share jumped to 1,154 kobo, compared to 359 kobo in the corresponding period last year, signalling significant value creation for shareholders.

Despite the strong topline growth, Nascon’s cost of sales rose to ₦40.8 billion, up from ₦28.4 billion in H1 2024, reflecting intensified production activity. Distribution and administrative expenses also rose to ₦15.6 billion from ₦13 billion, highlighting operational scale-up.

The company’s liquidity position improved, with cash and cash equivalents increasing to ₦36.6 billion as of June 2025, from ₦24.7 billion at the end of 2024.

Nascon’s total assets rose to ₦111.6 billion, up from ₦78.5 billion in December 2024, while total equity expanded to ₦53.2 billion from ₦43.1 billion, reinforcing the company’s financial strength.

During the period under review, Nascon paid out dividends totalling ₦5.4 billion, leading to a decline in retained earnings to ₦51.5 billion from ₦41.3 billion at the start of the year.

The robust financial results underline Nascon’s strong market position and effective cost management, positioning the company for continued growth in the second half of the year.