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Dangote Seasoning Launch

NASCON Allied Industries Plc, a subsidiary of the Dangote Industries Limited, recently introduced a new classic seasoning cube which consumers have described as tasty and flavorful, with a unique taste and aroma.

Executive Director, Commercial NASCON Allied Industries Plc. Hajiya Fatima Aliko Dangote described the new classic seasoning as a new innovation birthed after years of consumer-led research and development, and urged distributors, marketers, eateries and consumers to immediately key into it.

Speaking at the launch in Kano state, Hajiya Fatima Aliko Dangote said the classic seasoning cubes and stew mix were created with a special blend of herbs and spices to give meals that unique taste and great aroma.

She described the seasoning as Karshen Magana (Real Deal), and is second to none in the country. She urged women at home to try the new seasoning cubes, stew mix and curry powder, as they would ensure meal moments are great moments.

She also assured stakeholders that in time, the products would be launched in other parts of the country, adding that despite the high innovative quality, it is affordable and available with various promotional items to be enjoyed by distributors and consumers.

Also speaking at the event, the Group Managing Director of NASCON Allied Industries Plc, Mr. Paul Farrer assured listeners that the new product is a high margin product that would help ensure customer satisfaction and remain profitable, describing the new product as premium but affordable.

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News

NASCON Annual General Meeting 2018

NASCON Allied Industries Plc has said it will retain its focus on implementing a sustainable expansion strategy in a bid to increase its market share in the food sector. The Chairperson, NASCON, ’Yemisi Ayeni, said the company regularly reviewed its strategy last year to ensure alignment with market realities.

She told shareholders at the company’s Annual General Meeting on Thursday in Lagos that the review was done “in a bid to deliver on our commitment to continuous value creation and retention of our position as market leader in our core business.”

She said, “In 2019, we remain positive about our business, and we will retain our focus on implementing a sustainable expansion strategy. During the year, we would continue to drive new seasoning products, whilst constantly engaging our shareholders.

In respect of our core salt business, we are excited about our significant investment in expanding our refined capacity while leveraging on our brand dominance.

This capacity would be focused on driving volumes in both the sachet and corporate segments of the market.” The Executive Director, Commercial, NASCON, Fatima Aliko-Dangote, described NASCON products as widely accepted in the market, saying the company introduced three new products in 2018.

She said the company would introduce more products this year as part of strategies to meet the needs of its diverse customer base. The Managing Director, NASCON, Paul Farrer, said the company demonstrated resilience in the challenging environment last year, adding it remained strongly focused on capacity growth and increased market penetration.

He disclosed that the company achieved sales volume of 397,561 metric tonnes in 2018, with revenue of N25.77bn and earnings before interest, taxes, depreciation and amortisation of N7.95bn and a profit before tax of N6.45bn with a 25 per cent margin.

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News

Dangote Bows Out As NASCON Chairman

Says firm underwent significant changes in 3 years

The outgoing chairman of NASCON Allied Industries Plc, Alhaji Aliko Dangote said, the company has undergone significant change in the past three years.

Speaking at the company’s annual general meeting held yesterday in Lagos, Dangote said, “Through my tenure, the company has seen substantial investment in expanding of product lines as well as strengthening and restructuring almost every aspect of its existing operation.

In 2015, our objective was to grow the seasoning, refined oil and tomato paste businesses to ensure that these new product lines complement and strengthen our existing refined salt businesses, contributing to revenue and delivering profit.” 

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PRESS RELEASE

Ayeni becomes new Chairman of NASCON Allied Industries PLC.

NASCON Allied Industries Plc has appointed Mrs. Yemisi Ayeni as its new chairman of Board of Directors.
Ayeni, a former finance director at Shell Nigeria Exploration and Production Company and currently a council member of the Nigerian Stock Exchange (NSE), emerged chairman of NASCON at the company’s board meeting held on December 15, 2015.

Also appointed to the board as non-executive directors are current chairman of Diamond Bank and facilitator at the Lagos Business School (LBS), Dr Chris Ogbechie, and an architect and a board member of Oando Foundation, Fatima Wali-Abdurrahman.

According to a statement signed by the company secretary, Mr Adedayo Samuel, The new Chairman started her career as an Audit assistant with Price Waterhouse London, before she joined Price Waterhouse Lagos. She later joined SNEPCo and earned the distinction of being the first Nigerian female ever to be appointed to the board of a Shell company in Nigeria. She is a graduate of Economics from the University of Manchester, the United Kingdom (UK), and a member of the Institute of Chartered Accountants of England and Wales.

Ogbechie holds a First Class degree in Mechanical Engineering also from the University of Manchester. In addition, he obtained his MBA from Manchester Business School, England, and a PhD from Brunel University, England. He has almost four decades of working experience spanning across the media, manufacturing, banking, and the academia.

Wali-Abdurrahman has a Bachelor of Arts degree in Architecture and Urban Studies from the University of Minnesota, United States, and an MSc in Economics and Management of Construction from the University College London, UK. She is currently the chief executive officer of Filmo Group of Companies, a key player in the Nigerian real estate sector. She was a former member of the Lagos State University Governing Council.

The other directors of the newly composed board of NASCON, which has Mr Paul Farrer as the managing director, include Olakunle Alake, Halima Aliko Dangote, Knut Ulvmoen, Sada Ladan-Baki, and Abdu Dantata.

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News

NASCON Raises Dividend To 150kobo As Profit Rises 121% To N5.3bn

NASCON Allied Industries Plc has recorded a jump of 121 percent in profit after tax (PAT) for the year ended December 31, 2017, despite the challenging operating environment.

The member of Dangote Group announced a revenue of 27.064 billion in 2017, showing an increase of 47 percent from N18.292 billion in 2016. Cost of sales rose from N12.374 billion to N17.070 billion, while gross profit improved by 68 per cent to N9.994 billion compared with 5.917 billion in 2016. Administrative expenses rose from N1.479 billion to N1.774 billion, just as operating expenses rose from N3.818 billion in 2016 to N7.626 billion in 2017. However, finance cost fell from N357 million to N72 million.

Consequently, profit before tax jumped by 124 per cent to N7.909 billion, from N3.516 billion in 2016. PAT grew slower by 121 per cent from N2.415 billion to N5.343 billion, due to a high tax that rose to N2.564 billion, from N1.101 billion in 2016.

The jump in bottom line made the directors to recommend a dividend of 150 kobo per share, up from 70 kobo paid the previous year. NASCON Allied Industries Plc last year assured shareholders of higher returns on their investment, saying it would roll out more products during the year.

According to the Chairman of NASCON Allied Industries Plc, Yemisi Ayeni, when introduced, the new products would enhance the company’s turn over, profitability and ultimately rub-off positively on the shareholders. Ayeni revealed that the company would also be investing in salt packaging and seasoning cubing lines to increase market share and improve efficiency.

Also speaking to the shareholders last year, Executive Director, Commercial, NASCON Allied Industries, Fatima Aliko Dangote said the company was doing so much to enhance their stakes on a consistent basis.

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