Dangote Sugar reports 134% rise in profit in Q2


Dangote sugar refinery plc, Nigeria’s largest importer and marketer of sugar said its profit rose by 134% to NGN17.1 billion in second quarter 2017 compared to NGN7.3 billion recorded same period 2016.

The refinery ended the quarter with NGN118.6 billion revenue compared to NGN70.4 billion reported in the year before while gross profit was NGN26.8 billion in contrast to NGN13.9 billion posted the year before.

Total assets at the end of the period was NGN203.1 billion against NGN111.6 billion in the year before while total liabilities was NGN127.1 billion versus NGN52.1 billion in the year before.

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