NASCON Allied Industries Plc opened 2026 strongly and grew its Q1 profits.
The company raised pre-tax profit to ₦14.98 billion for Q1 ended March 31, 2026.
This result shows a 32.45% rise from ₦11.31 billion in Q1 2025.
NASCON Strong Profit Growth Despite Lower Revenue
Revenue fell 5.99% to ₦39.34 billion as market conditions weakened.
However, management offset weaker sales through tighter cost control and efficiency gains.
The company cut cost of sales by 21.13% to ₦18.89 billion.
As a result, NASCON lifted gross profit by 14.27% to ₦20.45 billion.
In addition, operating expenses dropped sharply by 87.93% to ₦0.86 billion.
This reduction helped management improve operating performance significantly.
Meanwhile, NASCON reduced finance costs by 59.26% to ₦86.48 million.
At the same time, the company boosted finance income to ₦2.53 billion.
Consequently, post-tax profit climbed 30.63% to ₦9.89 billion.
Similarly, earnings per share increased 30.42% to 1,463 kobo.
Efficiency Gains Drive Margin Expansion
On the balance sheet side, NASCON expanded total assets by 77.07% to ₦160.77 billion.
The company drove this growth mainly through higher current assets.
However, trade receivables surged over 200% to ₦60.22 billion.
This trend suggests stronger credit sales, but it may pressure cash flow.
Furthermore, NASCON increased total liabilities by almost 98.74% to ₦79.70 billion.
At the same time, the company grew equity by 60.27% to ₦81.07 billion.
Management achieved this through stronger retained earnings from higher profits.
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Administrative expenses rose to ₦2.60 billion during the period.
Inventory stayed high at ₦14.34 billion despite a year-on-year decline.
Contract liabilities increased by 31.6% to ₦5.57 billion.
Market Momentum Strengthen Investor Confidence
Despite these pressures, investors strengthened demand for NASCON shares.
The company closed at ₦206.90 on April 28, 2026.
This reflects a 92.5% gain since the start of the year.
The stock also rose 36% over the past four weeks.
NASCON reached a market capitalisation of about ₦559 billion.
Strong earnings and cost discipline continued to support investor confidence.
In 2025, the company more than doubled its profit after tax.
It also paid a ₦6 per share dividend, the highest since listing.
Overall, NASCON continues to drive growth through cost control and efficiency.
