Nascon Allied Industries Plc recorded a pre-tax profit of N36.6 billion for the nine months ended September 2025, according to its recently released unaudited financial statements.
This marks a 168.8% year-on-year increase from N13.6 billion recorded in the same period of 2024.
For the third quarter alone, pre-tax profit rose by 108.9% to N13.4 billion, reflecting sustained business momentum.
A closer look at the results shows that robust revenue growth and a strong rise in finance income were key drivers of the performance.
Nason reported revenue of N117.3 billion for the nine months ended September 30, 2025, representing a 46.9% increase from N79.8 billion recorded in the corresponding period of 2024.
In line with the revenue growth, cost of sales rose by 34.8% to N60.16 billion, driven largely by raw material costs, which accounted for N17 billion of the total.
Other income grew by 53% to N202.2 million, while operating profit climbed sharply to N33.24 billion, compared to N13.64 billion in 9M 2024.
Finance income increased to N3.97 billion from N935.89 million, while finance costs dropped 41.98% to N541.79 million, contributing to a stronger bottom line.
As a result, profit before tax rose by 168.8% to N36.68 billion, up from N13.64 billion in the same period of 2024.
After accounting for a tax expense of N12.35 billion, profit after tax stood at N24.33 billion, a 171.6% year-on-year increase from N8.96 billion.
The company’s balance sheet showed a modest expansion, with total assets rising to N112.4 billion as of September 30, 2025, compared to N111.3 billion in 2024.
Total liabilities decreased to N50.4 billion from N74.9 billion in the prior year, driven mainly by higher trade payables, borrowings, and other financial obligations.
Meanwhile, total equity strengthened to N61.9 billion, up from N36.4 billion in 2024, supported mainly by a strong retained earnings of N60.1 billion.