CORPORATE BRIEF: NASCON Allied Industries PLC Net income for Q3 2017 doubled Previous Records

0
NASCON Allied Industries Plc recently released its unaudited  third quarter earnings.
The recently reported result of the firm for Q3 was impressive. There was an upsurge in both top and bottom line in comparison with the previous year. The growth in Revenue was contributed mainly from sales in the Northern region which rose by 73% from N8.4 billion to N14.5 billion. We attribute this to reduction of insurgency in the region.
Key Highlights:
  • The recently reported result of the firm for Q3 was impressive. There was an upsurge in both top and bottom line in comparison with the previous year. The growth in Revenue was contributed mainly from sales in the Northern region which rose by 73% from ₦8.4 billion to ₦14.5 billion. We attribute this to
    reduction of insurgency in the region.
  • Net income for Q3 2017 has doubled that recorded in FY 2016.
  • The sharp reduction in the finance cost which occurred due to less debt finance, as overdraft balance was nil at end of Q3, this contributed to the growth reflected in the bottom line.
  • The firm strengthened its ability to meet its short-term obligations as indicated by the growth in its Current Ratio and quick ratio. Also, the buildup of
    cash and bank balances reflects good working capital management.
Kindly click on this   link  to see full details on the Corporate Brief of the firm.
Share this!

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Show Buttons
Hide Buttons