Dangote sugar refinery plc, Nigeria’s largest importer and marketer of sugar said its total revenue for the year 2016 rose to NGN169.7 billion compared to NGN101.0 billion recorded in 2015.
The company’s cost of sales for the year was NGN146.7 billion compared to NGN80.5 billion recorded in 2015.
Gross profit for the year slightly rose to NGN22.9 billion compared to NGN20.4 billion recorded in the year before. Its operating profit increased to NGN16.8 billion compared to NGN15.5 billion recorded in the year 2015.
The company recorded NGN19.6 billion as profit before taxation against NGN16.1 billion recorded in the year before.
After its deduction of tax, Dangote Sugar’s profit for the year rose to NGN14.3 billion versus NGN11.1 billion recorded in the year before,which represents 28% rise year on year comparison.
The total assets acquired by the refinery was NGN178.3 billion in 2016 compared to NGN102.2 billion acquired in the year before. Its total liabilities in the year was NNG112.2 billion against NGN44.4 billion recorded in the previous year.
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Company Information
Dangote Sugar Refinery Company Plc (“DSR”) commenced operations as a sugar refiner in March 2000.The sugar refining plant was commissioned in 2001, with an initial capacity of 600,000 MT p.a. Dangote Sugar Refinery is one of the largest refineries in the world with a capacity of 1.44 million MT p.a. Dangote Sugar Refinery employs the talo-phosphatation and ion exchange resin technologies to purify sugar to internationally accepted quality standards. DSR sugar refinery is located in Lagos, at Nigeria’s largest port the Apapa Wharf. DSR is Nigeria’s controls a dominant market position in the sugar refining sub sector of the Nigerian food & Beverage Industry. Dangote Sugar Refinery Plc shares is listed on the Nigerian Stock Exchange (NSE).
