{"id":66038,"date":"2022-10-30T18:47:49","date_gmt":"2022-10-30T17:47:49","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=66038"},"modified":"2022-10-30T18:47:49","modified_gmt":"2022-10-30T17:47:49","slug":"dangote-sugar-declares-n36-27bn-profit-in-9-months","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/dangote-sugar-declares-n36-27bn-profit-in-9-months\/","title":{"rendered":"Dangote Sugar Declares N36.27bn Profit In 9 Months"},"content":{"rendered":"
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Dangote Sugar Refinery Plc has announced a Profit Before Tax of N36.27 billion for a duration of nine months ending September 30, 2022.<\/p>\n<\/div>\n

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Group Managing Director, Dangote Sugar Refinery Plc, Mr Ravindra Singhvi, made this known in a statement on Sunday in Lagos.<\/p>\n<\/div>\n

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He said that the company\u2019s PBT rose by N13.17 billion compared to N23.10 billion posted in the corresponding period in 2022.<\/p>\n<\/div>\n

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Singhvi added that Profit After Tax rose from N15.51 billion to N24.83 billion, while revenue went up from N195.50 billion to N288.32 billion.<\/p>\n<\/div>\n

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He attributed the positive results for the period to key trade interventions introduced during the year and positive market responses.<\/p>\n<\/div>\n

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He recalled that the company recorded a PBT of N29.73 billion for the half year ended June 30, 2022, while PAT hit N20.24 billion in that period.<\/p>\n<\/div>\n

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\u201cOur impressive performance in the period demonstrates our resilience in the face of prevalent challenges, which rightly reflected in strong top-line growth as seen in the financial results,\u201d he said.<\/p>\n<\/div>\n

Singhvi said that Dangote Sugar Refinery had continued to implement its sugar backward integration projects plans and enhance its out-growers scheme to support the economic growth of the immediate communities.<\/p>

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He said the company\u2019s aim was to develop a robust out-grower scheme with no fewer than 5,000 outgrows when the projects have fully taken off.<\/p>\n<\/div>\n

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This, he explained, was in addition to the achievement of other targets of its \u2018Sugar for Nigeria Project\u2019 plan.<\/p>\n<\/div>\n

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\u201cThe key focus of the sugar refinery is the achievement of the Dangote Sugar Backward Integration Projects targets and putting Nigeria on the path of sugar self-sufficiency and the world sugar map.<\/p>\n<\/div>\n

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\u201cEmployees\u2019 health and safety as well as that of its partners remain a top priority at the company\u2019s operations at the Apapa Refinery, its Sugar Backward Integration Operations in Numan, Adamawa and Tunga, Nasarawa.<\/p>\n<\/div>\n

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\u201cAll processes are in compliance with stipulated health and safety protocols,\u201d he said.<\/p>\n<\/div>\n

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The News Agency of Nigeria reports that Dangote Sugar Refinery is Nigeria\u2019s largest producer of household and commercial sugar with 1.44M MT refining capacity.<\/p>\n<\/div>\n

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The company refines raw sugar imported from Brazil to white, Vitamin A fortified refined granulated white sugar suitable for household and industrial uses.<\/p>\n<\/div>\n<\/p>","protected":false},"excerpt":{"rendered":"

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