H1’2021: Dangote Sugar records 27.8 per cent increase in revenue

August 2, 2021
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Dangote Sugar Refinery in its half-year ended June 30, 2021, has recorded 27.8 per cent increase in its group revenue to N131.95 billion in contrast to N103.23 billion recorded at the same period in the preceding year.

According to the refinery’s unaudited results for the period submitted to the Nigerian Exchange Limited (NGX), Gross profit grew double-digit at 37.3 percent to N28.59 billion compared to N20.82 billion in the preceding year due to better topline performance.

Group sales volume increased to 388,589 tonnes while production volume also increased by 7.6 per cent to 403,846 tonnes driven by operations optimization drive.

Commenting on the Company’s half-year 2021 performance, the Group Managing Director/CEO, Ravindra Singhvi said; “We commenced the year on a strong footing with impressive performance in first half as the financial results have shown, with a stronger Q1 topline growth and a robust Q2 topline growth year on year.”

“The team is committed to navigate the second half of the year, keeping the health and safety of our people and partners as top priority.

“Our Refinery in Apapa and Backward Integration Operations in Numan, Adamawa State and Tunga, Nasarawa State continue to operate in compliance with our health and safety protocols while ensuring our commitment to the environment and sustainable business practices are maintained,” Singhvi said.

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