Dangote Sugar Plc, recorded 28.8 percent revenue growth to N276.50 billion in its full year 2021 over N214.30 billion recorded in 2020.
The company also recorded an increase in Group sales volume, which rose by 5.7% to 773,341 tonnes compared to 731,701 tonnes in 2020.
This is according to company’s full year report for the period ended December 31, 3021.
Further looks at the numbers showed that the the group’s production volume increased by 9.2% to 811,962 tonnes in contrast to 743,858 tonnes, in the corresponding period of 2020.
This volume was said to be achieved on the strength of improved operational efficiency despite the adverse impact of the perennial Apapa traffic gridlock situation.
The company recorded a gross profit of N50.21 billion and profit after taxation of N22.05 billion.
Dangote Sugar Refinery audited results showed that growth in 2021 was supported by the positive market responses to key trade interventions introduced during the year.
Group production volume increased by 9.2% to 811,962 tonnes in contrast to 743,858 tonnes and was achieved on the strength of improved operational efficiency despite the adverse impact of the perennial Apapa traffic gridlock situation. The company recorded a gross profit of N50.21 billion and profit after taxation of N22.05 billion.
Group Managing Director, Dangote Sugar Refinery, Ravindra Singhvi, in his remarks said: “Our impressive performance in the year demonstrates our resilience in the face of prevalent challenges, which rightly reflected in strong topline growth shown in the financial results.
“During the year under review, we concluded integration of our new 50kg packaging for the fortified and non-fortified sugar bags in the market. This refreshed our brand personality and led to a deeper connection to the Dangote Sugar brand among our valued customers and consumers, whilst sustaining our market presence and leadership with the product quality.”
“We also continued our Sustainability journey with the inclusion of United Nations Goal 13 to the Dangote Sugar Strategic Priority SGDs 2, 4, 6, 8 and 12 to ensure we contribute and make meaningful impact to the society. Our Supply Chain Management process is being certified to ISO 40200 (Sustainable Procurement), and Bonsucro Certification is in view,” he added.
“Dangote Sugar Refinery has continued to enhance outgrowers management at the sugar backward integration sites. The aim is to support the economic growth of the immediate communities where the refinery operates with about 5,000 outgrowers when the projects have fully taken off.
“We also continued our Sustainability journey with the inclusion of United Nations Goal 13 to the Dangote Sugar Strategic Priority SGDs 2, 4, 6, 8 and 12 to ensure we contribute and make meaningful impact to the society.
“The key focus is achievement of the Dangote Sugar backward integration projects targets and put Nigeria on the path of sugar self-sufficiency and on the world sugar map.
“The Sugar Refinery places top priority on the Health and Safety of staff and partners remains a top priority with Apapa Refinery and backward integration operations in Numan, Adamawa State and Tunga, Nasarawa State operating in compliance with stipulated health and safety protocols.
“Dangote Sugar Refinery is Nigeria’s largest producer of household and commercial sugar with 1.44M MT refining capacity at the same location, refines raw sugar imported from Brazil to white, Vitamin A fortified refined granulated white sugar suitable for household and industrial uses.
“Its backward integration goal is to become a global force in sugar production, by producing 1.5M MT/PA of refined sugar from locally grown sugar cane for the domestic and export markets.
“To achieve this, Dangote Sugar Refinery Plc acquired DSR Numan Operations (Savannah Sugar Company Limited), located in Numan, Adamawa State in December 2012, and embarked on the ongoing rehabilitation of its facilities and expansion of its 32,000 hectares’ sugarcane estate.
“In September 2020, the scheme of merger between DSR and Savannah Sugar Company Limited was completed, which gave birth to a bigger and stronger business with considerable opportunity for growth and delivery of superior benefits to all stakeholders.
“The expansion of the Numan Sugar Estate is still ongoing as well as the development of the greenfield site acquired at Tunga, Nasarawa State for the achievement of DSR’s sugar for Nigeria development master plan.”