Prime Business Africa
In the first half (H1) of 2026, Nascon Allied Industries recorded a marginal increase in its revenue, which rose by 3.84 percent, from N78,15 billion in H1 2025 to N81,15 billion.
Prime Business Africa’s (PBA) analysis of the company’s unaudited financial statements for the interim period ended June 30, 2026, showed that Nascon managed to cut its cost of sales by 1.03 percent year-on-year.
Join our WhatsApp ChannelThe company had expended N40.77 billion on cost of sales between January and June 2025, however, during the same period in 2026, Nascon incurred N40.34 billion.
As a result, Nascon saw a 9.16 percent growth in gross profit, which increased to N40.80 billion during the period under review, above the N37.38 billion achieved in the first six months of last year.
However, other income nosedived to N39.35 million in the first half of this year, falling by 77.90 percent below the N178.05 million generated in the corresponding period in H1 2025.
Nascon offset the decline with N387.23 million in other operating gains in H1 2026, rebounding from the N590.67 million other operating loss experienced between January and June the year before.
Distribution costs increased to N11.22 billion in the first half of 2026, climbing from N11.12 billion sustained in H1 2025, representing a 0.96 percent growth.
Administrative expenses followed the same path with a 21.10 percent increase, rising from N4.52 billion incurred in H1 2025 to N5.48 billion in H1 of this year.
Following the deduction of distribution costs and administrative expenses, the company closed the period under review with operating profit of N24.52 billion, up by 15.01 percent when compared to the N21.32 billion posted in H1 2025.
Nascon revealed that finance income was N5.34 billion in the first six months of 2026, rising by 125.95 percent above the N2.36 billion reported in the first half of the previous year.
The company improved its finances with a 58.46 percent decline in finance cost, which decreased to N171.60 million in H1 2026, compared to the N413.13 million in H1 2025.
Consequently, Nascon recorded 27.59 percent growth in profit before tax (PBT), as it grew to N29.70 billion between January and June 2026, exceeding the N23.27 billion earned in the same period last year.
The firm disclosed that income tax gulped N10.09 billion between the first quarter (Q1) and the second quarter (Q2) of this year, up by 31.46 percent when compared to the N7.68 billion filed in H1 2025.
This left Nascon with profit after tax (PAT) of N19.60 billion in H1 2026, surpassing the N15.59 billion reported in the corresponding period in 2025, reflecting a 25.68 percent growth.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
