NATIONAL Salt Company of Nigeria (NASCON), a member of Dangote group has declared its financial results for the year ended December 2012, posting a turnover of N13 billion, indicating a 30 per cent growth over and above the results for the corresponding year of 2011.
Chairman of the company, Alhaji Aliko Dangote, disclosed this during the 2012 annual general meeting of the company held in Lagos, on Thursday.
He told shareholders at the meeting that operating profit before tax stood at N4 billion, while the profit after tax was N2.8 billion, showing a growth of 25 per cent over the 2011 results.
To this end, the shareholders approved the recommendations of the board for the payment of N2.35 billion dividend representing 90 kobo for every 50 kobo ordinary share held.
Dangote said the company was able to record the modest performance despite the exhibition by the global financial system of signs of deep stress with improvement or no improvement at all over the 2011 situation.
He lamented that the company continued to face the usual challenges of the Nigeria n business environment with energy in particular and other issues such as poor infrastructure, uncoordinated tax administration among others playing roles in preventing the manufacturing sector from reaching its full potential.
“However, your board and management overcame these difficulties by responding to the challenges through strategic efforts and are therefore able to present the good results,” Dangote stated.