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Photo:
L-R: Director, NASCON Allied Industries Plc, Halima Dangote acknowledging the
greetings of the shareholders while Executive Director Commercial, NASCON
Allied Industries Plc, Fatima Dangote and the Managing Director, NASCON Allied
Industries Plc, Paul Farrer looks on with interest, at the company’s Annual
General Meeting (AGM) held recently in Lagos
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Executive
Director Commercial of NASCON Allied Industries Plc, Fatima Aliko Dangote has
expressed delight at the expected significant increase in both turnover and
profitability of the company, as a result of the proposed new products, to be
released to the market before the end of this year.
In a chat
with select media men on Tuesday, Fatima said the arrangements for the launch
of new products have been concluded and once introduced into the market, both
the turnover and profits of the company will witness a significant increase.
According
to her: “We are bringing other products that are going to be launched this
year. So, hopefully, 2017 will be a better year. We will record a significant
increase in both the revenue and profitability as a result of the new products
and this will be very good for our shareholders.”
She further
assured that the company will “try as much as possible to perform a lot better
than we did in 2016. Obviously the shareholders are aware that we are having
some challenges from sourcing materials for some of our products locally, but
we are going to try as much as possible to do a lot better.
We are investing so
much in other things that we are presently doing at the moment, we are
expanding, we are investing on new refinery for our salt and we are also
looking at innovations…We placed shareholders interest so high cos they have
actually trusted us, they have invested in our business and as you can see,
regardless of our challenges, we are still able to push really hard and declare
profits. we have to take our shareholders very importantly so that they can
keep trusting us, and more people will keep buying our shares and hold us in
high regards”
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Photo:
L-R: Executive Director Commercial, NASCON Allied Industries Plc, Fatima
Dangote, discussing with another director of the company, Prof. Chris Ogbechie at the company’s Annual
General Meeting (AGM) held recently in Lagos
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The
company recorded a turnover of N18.29 billion, representing a 13 per cent
increase over the N16.18 billion in the previous year. Profit after tax increased
by 15 per cent from N2.11 billion in 2015 to N2.42 billion, while earnings per
share also increased from 79 kobo to 91 kobo. As a sign of stability, the
company has N2.45 billion in cash reserves for the year under review.
Recalled
that the Chairperson of the company, Yemisi Ayeni at the Annual General Meeting
(AGM), held last week said for the company to increase market share and improve
efficiency, it will be “investing in Salt packaging and seasoning cubing
lines”. For the year under review, she
said while the revenue from the sales of salt increased by 24 per cent to
N14.82 billion, sales from seasoning increased by 127 per cent to N0.54
billion.
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