Dangote Sugar lifts revenue to N626bn in nine months, trims losses sharply

Dangote Sugar Refinery Plc has reported a 29 per cent growth in revenue to N626.24bn for the nine months ended September 30, 2025, compared to N484.43bn recorded in the same period of 2024.

According to the company’s unaudited financial statements filed with the Nigerian Exchange Limited (NGX) and obtained on Sunday, the sugar producer recorded a significant improvement in its bottom line, cutting losses to N10.59bn from N184.36bn in the corresponding period of last year.

The company attributed the improved performance to enhanced operational efficiency, lower finance costs, and a recovery from previous fair value losses on assets.

Gross profit jumped to N90.06bn in the period under review, from N19.82bn a year earlier, driven by higher sales volumes and better cost management. Administrative expenses, however, increased to N20.53bn from N11.83bn.

Finance income fell to N3.34bn from N6.93bn, while finance costs dropped sharply to N95.59bn from N300.17bn in 2024, resulting in a reduced net finance loss of N92.25bn compared to N293.25bn in the same period last year.

Operating profit rose steeply to N81.12bn, against N8.16bn in 2024, underscoring the company’s improved operational performance despite macroeconomic headwinds.

Dangote Sugar’s total assets stood at N1.02tn as of September 2025, marginally lower than N1.05tn as of December 2024. Shareholders’ equity declined to N198.56bn from N212.28bn, while total liabilities were valued at N817.15bn.

The company maintained a strong balance sheet, with property, plant, and equipment valued at N615.69bn and inventories of N130.5bn.

Earnings per share improved significantly to a loss of 87 kobo, compared to a loss of N15.18 in the prior period, reflecting a major turnaround in the company’s financial position.

Despite the lingering loss position, analysts say the latest results indicate that Dangote Sugar is on a path to recovery, supported by cost optimisation efforts and steady growth in domestic demand.