More pain for Dangote as NASCON post 31% drop in 2014 earnings per share

NASCON Plc has finally released its 2014 FY results and as expected the company recorded a profits. The company reported revenues of N11.2billion up 3.7% from N10.8billion reported a year earlier. The company also reported pre-tax profits dropped 30% year on year to N2.8billion. Earnings per share on the other hand fell 31% to 70kobo […]

NASCON Plc has finally released its 2014 FY results and as expected the company recorded a profits. The company reported revenues of N11.2billion up 3.7% from N10.8billion reported a year earlier.

The company also reported pre-tax profits dropped 30% year on year to N2.8billion. Earnings per share on the other hand fell 31% to 70kobo per share.

NASCON, as has been the trend lately, did not attach any Balance sheet, cash flow statement or statement of equity to this result. Yet it was Published by the NSE.

NASCON is one of the companies in the Dangote Group and also contributes a significant portion of the moguls net worth. The share price has plummeted 27% in the last one year and went as low as N5.68 during the stock market massacre of December 2014. NASCON shares was down 2.1% to N8.17 as at 2.25pm (Wednesday 13th) local time in Nigeria.

Updated (14/5/2015)

The NSE finally uploaded the full 2014 FY results from NASCON. The results showed that the company proposed a dividend per share of 50 kobo as against 90 kobo the year before. You can get the results here