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Dangote Sugar Impresses With N13.5billion PAT, 25% Increase YoY (2013 FY 2013)

Nairametrics by Nairametrics
April 29, 2014
in Uncategorized
Dangote Sugar Impresses With N13.5billion PAT, 25% Increase YoY (2013 FY 2013)
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Dangote Sugar release its 2013 FY results showing a 25% increase in earnings per share to N1.13 (2012: N90kobo). Other highlights of the results are as follows;

  • Turnover dropped 4% to N102.4billion compared to N106.8billion in 2012
  • The company attributed the drop in turnover to a general drop in prices of sugar world wide which they in turn passed on to consumers
  • Gross profit rose 16% to N26.9billion during the year (2013: N23.2billion). Gross profit margin also improved 26% compared to 21% a year earlier
  • Operating profit without other income was N16.3billion, 15% higher than N16.3billion posted a year earlier
  • Dangote Sugar posted a 25% increase in profit after tax to N13.5billion compared to N10.7billion a year earlier.
  • Though a great result it came short of the 45% increase in PAT experienced in 2012/2011
  • Dangote Sugar Returns on Equity remains high at 27%
  • It is ask important to note that the result above was analyses as a Company. As a group profit after tax did dip to N10.8billion.

The company released these highlights as well

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Financial highlights   

Lower global raw sugar price enables 24% price cut to consumers  

First time consolidation of Savannah 

Group Revenue of ₦103.2 billion (2012, company N106.9 billion) as prices ease 

Company EBITDA margin increased to 19% from 15% 

Company profit before tax up 23% to ₦20.1 billion  Company earnings per share up 26% to 113 kobo. 

Corporate debt remains zero 

Dividend of 60 kobo per share proposed

Operating highlights  

Sales volume up 23% to 815,660 tonnes 

Refinery production up 42% to 814,910 tonnes 

Seasonal harvesting of Sugar Cane at Savannah underway 

5,000 hectares of land under development at Savannah  

Savannah factory operations commenced  

380 trucks added to distribution fleet

Screenshot (224)

Tags: Dangote SugarNigerian Company Results
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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