NASCON Allied Industries PLC (NASCON)’s Management effort to intensify its marketing activities in the Western region yielded significant benefits in the first half of 2021. Despite the intense competition from other brands, the firm recorded a 53.87% revenue expansion in the Western region. The company also leveraged the brand loyalty it enjoys from the Northern region (c.61% of total revenue), delivering a topline expansion of 9.08% to NGN10.81bn (vs. NGN9.90bn) in that market. This helped offset the revenue decline of 16.15% witnessed in the Eastern region.
Cumulatively, revenue for the first-half period increased by 20.93%YoY to NGN17.57bn (vs. NGN14.53bn in the corresponding period). It is important to note that the firm’s revenue performance has been solely upheld by the sale of salt and seasoning since Q1:2020.
Kindly use the link below to download the full report.
