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NASCON Allied Industries Leverages on new Salt Refinery to Boost Revenue, Pays N1.06bn Dividend

NASCON Allied Industries Plc has ended the 2020 financial year on a positive note, with a reason for cheer and greater optimism among the company shareholders, based on the expected revenue increase from its new state-of-art Salt Refinery.

Rising from its 2020 Annual General Meeting held at the Civic Centre in Lagos weekend, the company announced an improved turnover of N28.01 billion, representing a two per cent increase from the previous year (N2019: N27.49 billion), despite the economic headwinds generated by the COVID-19 pandemic globally and nationwide.

In its 2020 Annual Report themed ‘Protecting Our Core’, the company, for the financial year ended 31st December 2020 also recorded N2.69bn in Profit After Tax (PAT), a 46 per cent increase for the year, compared to N1.85bn in 2019. Earnings per share also increased to N1.02 in 2020 compared to N0.70 in 2019.

The Board of NASCON Allied Industries, at the meeting convened by the Chairperson, Mrs. ‘Yemisi Ayeni, also recommended a dividend payment of N0.40 per 50 kobo share, totalling N1.06bn, which was put to vote and passed by the shareholders and proxies.

The Chairperson, in her statement, noted, “During 2020, many manufacturing businesses faced numerous challenges associated with COVID-19 and the resulting economic downturn. While I strongly believe that these are short to medium term, we have taken decisive measures to ensure stakeholder expectations are continually satisfied. We are confident that our business model will enable us to successfully navigate global changes while seizing opportunities to continually create value for our stakeholders.”

“2020 was a challenging year for our business and the world in general. Yet it was also a year that provided our business with the opportunity to review service delivery processes, reposition the salt business based on our additional capacity, and focus on our distribution models. It is the long-standing trust and loyalty of our shareholders that has allowed us to implement our long-term vision and benefit from the resilience it brings”, Ayeni added.

According to the Managing Director, Mr Paul Farrer’s review in the annual report, “The major challenge in the Nigerian business environment in 2020 was the outbreak of the COVID-19 pandemic resulting in major job losses and reduced income, across the country and a looming global recession which experts say may be one of the worst global recessions in recent history.

“Despite the diverse challenges faced during these trying times, we continue to demonstrate our resilience and optimism into 2021. We are focused on maximising the gains from our capacity expansion, human capital development, operational efficiency and aggressive trade in all market segments.

“In terms of market expansion, we have heavily invested in our new salt refinery. This is a state-of-the-art refinery plant, using best practices to produce high-quality products for our discerning customers. The future for NASCON looks very bright. We have installed our new salt refinery and as a result, established a strong platform for future growth.

“I want to specifically thank our trade partners, consumers, suppliers, team members and strategic stakeholders for contributing to our success story in 2020. We look forward to continuing these mutually beneficial relationships in the future,” he added.

Also, the Executive Director, Commercial, NASCON Allied Industries, Fatima Aliko-Dangote, noted, “The COVID-19 restrictions affected our route-to-market, but we are constantly engaging customers to improve our productivity. Although the bulk of our volume is consumed in the north, our investment in the new salt refinery will increase our productivity and our coverage of the other regions.”

One of the shareholders at the meeting, Sir Sunny Nwosu, acknowledged that the dividend for the year 2020 was more than that of last year. He also appreciated the corporate governance structure and the commitment of the management to the affairs of the company.

He hailed the issue of reduced borrowing as a good sign, and called for a wider geographical spread of the revenue base, to the East and West of the country.

At the AGM event, motions for the acceptance of the Annual Report and for the acceptance of the dividend of N0.40 per 50kobo share were moved, seconded and passed by the shareholders and proxies.

Also, three Directors, Olakunle Alake, Chris Ogbechie and Sada Ladan-Baki were re-elected into the Board by the shareholders.

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Message to Stakeholders

Dear Esteemed Customer and Stakeholder,

While efforts to contain the global COVID-19 epidemic continue to evolve, NASCON is taking proactive and voluntary steps to protect our customers, consumers and staff in our bid to continue to support and deliver quality nutritious products to our community.

We activated the measures below in readiness for a potential outbreak of COVID-19 in Nigeria:

  • Personal Hygiene: We instituted employee awareness trainings on precautionary measures in line with the guidelines provided by the Nigerian Centre for Disease Control (NCDC), the Federal and State governments.
    These include: regular washing of hands, the provision of alcohol-based sanitizers and infrared Thermometers in all our locations for both staff and visitors use.
  • Events and Outdoor Business Activities: We have suspended all company events, travels, and outdoor marketing activities. We have also instituted social distancing and ensured all staff who have just returned from travels are placed on self-isolation as necessary. We have equally taken measures to cancel all in-marketing activities and meetings of more than ten persons across all our offices and production facilities
  • Business Continuity: In the event that we encounter situations that caused interruption to normal business, the Dangote Group has a well-developed Business Continuity Plan (BCP) which ensures that we are able to maintain our operations and supply products to customers without compromising the safety of our staff.
  • Communication and Feedback: Our dedicated customer service team will ensure that we always update our stakeholders on the latest developments on how NASCON is responding to the challenges and provide support to our customers across board.
    We are also concerned about the pandemic, hence we will continue to prioritize safety by reviewing the above and swiftly respond to any prevailing circumstances.

If you have any customer or consumer questions/comments, please contact our customer service at 0700 888 0888 or via email at nasconcare@dangote.com.

For investor relations questions/comments, please email investors.nascon@dangote.com.

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NASCON Allied Industries PLC Partnering Host Communities

NASCON Allied Industries Plc, while partnering host communities to develop social co-existence, held a one-day sensitisation and engagement programme with Alayabiagba community, Ajeromi Ifelodun LGA, Lagos State today

Below are the pictures from the event:

L-R: Baale of Alayabiagba Community, Adesina Ojora; Group Social Specialist, HSSE, Dangote Industries Limited, Adenike Olaoye; Chairman, Ajeromi Ifelodun LGA, Hon. Abdulfatai Adekunle Ayoola; CFO, NASCON Allied Industries Plc, Aderemi Saka; and Head HSE, NASCON Allied Industries Plc, Jude Amaechi at the event

L-R: Baale of Alayabiagba Community, Adesina Ojora; Group Social Specialist, HSSE, Dangote Industries Limited, Adenike Olaoye; Chairman, Ajeromi Ifelodun LGA, Hon. Abdulfatai Adekunle Ayoola; CFO, NASCON Allied Industries Plc, Aderemi Saka; Head HSE, NASCON Allied Industries Plc, Jude Amaechi; Head of HR, NASCON Allied Industries Plc, Murtala Zubair; and HR Manager, Jamila Lawal

 

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NASCON Celebrates Customer Service Week 2019

NASCON Allied Industries dedicated a whole week in the month of October to celebrating Customer Service Week 2019.

The theme for the year was The Magic of Service and activities for the week ranged from happy hour (providing confectionaries for offices on a daily basis), to Customer Service quizzes sent out to evaluate staff’s knowledge where accuracy and speed was rewarded, and giving of gift items for winners of the quizzes.

On Thursday of the same week, staff were branded with a T-shirt to celebrate the event and a town hall meeting was held across the various SBUs.

The GMD addressed everyone on the magic of service as it applies to the workplace while the Head of HSE addressed the staff on safety in the work place and the joint responsibility of every member of the organization.

Staff from various departments in NASCON were rewarded for their dedication to service, other fun activities such a Dance competition and Fastest Fingers challenge for airtime also served to liven the day.

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Trade fair: LCCI commends Dangote investment drive, economic development

The Lagos Chamber of Commerce and Industry (LCCI) has commended the contributions of Dangote Industries to the growth and development of the Nigerian economy

This was a highlight at the Dangote Day at the Lagos International Trade Fair in Lagos where top management members of the pan-African conglomerate, Dangote Group, reeled out efforts being made to get the Dangote Refinery and Dangote Fertilizer completed in record time.

In a statement the President of the LCCI, Mr. Babatunde Paul Ruwase, said the Dangote Group has added a lot of value to the growth of the Nigerian economy pointing out that if Nigeria would have fared better if the country could have two Dangote group.

Ruwase said that the activities of the Dangote Group show high degree of vision, creative thinking, research, innovation, hard work and industry, which he added, have culminated into what one can describe as the Dangote business and industrial empire today.

Giving his remarks at the event, the Group Managing Director, Olakunle Alake, who spoke through the company’s Director, Supply Chain, Dangote Cement, Knut Ulvmoen, said that the group would continue to invest  Nigeria’s economy.

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NASCON impacts neighboring communities during Global Sustainability Week 2019

The management team of the school (principals), and residents of Liverpool street were deeply elated as they appreciated the gesture and signaled their commitment to sustain the projects

Employees of NASCON Allied Industries engaged in environmental sanitation and waste management initiatives to better their environment and ensure lasting impact on neighbouring communities as part of activities marking the 2019 Global Sustainability Week

The events, which lasted for one week, commenced with a brief introduction from Head HSE, Jude Amaechi; he highlighted the purpose of the week, the objectives and the merits before handing over to the Chairman of the occasion.

The MD, Paul Farrer, explained the reasons behind the objectives and the impact the business will make from the 2019 Sustainability Week’s Theme. The event was held at NASCON Oregun Muster Point.

The team from Oregun embarked on an enlightenment campaign on waste management at the Oregun High School; delivering a sound lecture on waste management, and donating waste bins and NASCON Products to the school, while staff from the Apapa Plant also engaged in cleaning of refuse at Liverpool Street.

The management team of the school (principals), and residents of Liverpool street were deeply elated as they appreciated the gesture and signaled their commitment to sustain the projects.

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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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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.