When I reviewed Dangote Sugar Q1, 2013 I mentioned that the revenue was flat. However, the MD on a recent ABN Digital interview last week confirmed that the flat revenue was as a result of a slash in sugar prices by 25% in December 2012. Despite that the company increased its volume of sugar sold from 3.2million in 2012 to 4.2million in Q1 2013 resulting in a 2% increase in revenue. He also discussed the impact of the acquisition of Savannah Sugar. He also confirms he does not see any further reduction in sugar prices.
See more here