Dangote Group Subsidiary Nascon Reports 3Q Results
A subsidiary of the Dangote Group, National Salt company of Nigeria (NASCON) has released its tird quarter earnings, declaring a profit for the 9 months ending September 2011.
The company reported a growth in revenue of 11% from N 6.5 Billion in 3Q 2010 to N 7.2 Billion as at the end of the last quarter.
Cost of Sales were marginally down reflecting savvy cost saving techniques used by management to achieve a better result.
Profit Before Tax was up 33% to N 2 Billion from N 1.5 Billion as at 3Q, 2010.
Similarly Net Profit was up 33% to N 1.36 Billion from N 1.02 Billion at the end of 3Q, 2010.
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