NASCON’s revenue grew strongly in 2022FY to NGN58.79bn, topping its performance in 2021FY by 76.64%YoY. The firm recorded higher revenue from both of its operating segments – Salt (+79.80%YoY) and Seasoning (+49.86%YoY) – on the back of price increments implemented across its products (salt and Classic seasoning cubes) as well as higher sales volume recorded during the period. NASCON’s effort to increase marketing activities in the Western region and leverage brand loyalty in the Northern region helped sustain performance as it recorded double-digit growth across all regions: North (+96.55%YoY), West (+46.50%YoY) and East (+30.14%YoY).
