Dangote Sugar Plc has released its financial statements for the year ended Monday, December 31, 2018. Below are the key highlights of the results:
Revenue
The company recorded a revenue of N150.3 billion for the period under review, compared to N204.4 billion in 2017. This represents a 26.4 percent decrease year on year.
Profit before tax
Dangote’s profit before tax decreased from N53.5 billion in 2017 to N34.6 billion in 2018, representing a 35.4 percent decrease year on year.
Profit after tax
The company’s profit after tax also dropped from N39.7 billion in 2017 to N21.9 billion in 2018. This represents a 44.8 per cent decrease.
Earnings per share
Dangote Sugar recorded earnings per share of N1.85 in 2018 compared to N3.31recorded in 2017. This represents a 44.1 per cent decrement.