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Dangote Sugar Refinery Plc has released its consolidated financial statements for the period ended September 30th, 2019 which show a slight decline in profitability. The breakdown is shown below.

Dangote Sugar reported a revenue of N117.4 billion in the last three quarters of 2019, indicating that there was a 0.57% increase compared to the company’s revenue N116.8 billion during the comparable period in 2018.

Cost of sales increased by 1.5% to N88.4 billion, up from N87 billion during the comparable period last year.

[READ MORE: Lafarge Africa’s latest earnings report shows 8.5% decline in gross profit]

There was a 12.4% decline in the company’s Profit before tax for the period which stood at N22.9 billion compared to N26.2 billion during the comparable last year.


In the same vein, the company’s profit after tax declined by 12% to N14.8 billion compared to N16.9 billion recorded in the first three quarters of last year.

Earnings per share attributable to shareholders for the period is N1.24 as against N1.41 during the comparable period last year.

The company’s share price closed trading today at N10.35 on the Nigerian Stock Exchange.

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Download the full report here.

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