Dangote Sugar Plc released its 2014 half year results showing a10% drop in revenues and a 5.5% drop in pre-tax profits. It is always nice to hear from the MD’s of these companies and this was what Graham Clark, the Group Managing Director had to say.
“The Group remains focused on increasing sugar production and achieving greater capacity utilisation. A comprehensive maintenance upgrade was completed at the Apapa Refinery in May 2014, which will improve output for the remainder of the year. Challenges with disrupted gas supply during June 2014 were overcome by alternative firing of the Apapa boilers on Low Pour Fuel Oil. Gas supply has since returned to normal.”
“Harvesting of sugar cane at Savannah was completed in early May 2014, and focus has turned to maintenance of the next crop which is expected to produce improved cane yields. The Savannah factory crushed all available sugar cane in 2014 and produced 25% more sugar than in the previous period. Planned factory maintenance is underway to prepare for an increased cane crop in the coming season. Preparations for further expansion at Savannah include the planting of some 800 hectares of new seed cane for use in the coming planting season.”
“Our greater expansion plans continue to gain momentum.”
