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Q3 2023: Dangote Sugar declares N27bn loss in 9 months

Shareholders back N500bn capital raise as Dangote Sugar deepens expansion drive

L-R: Company Secretary/Legal Adviser, Dangote Sugar Refinery Plc, Temitope Hassan; Chairman, Dangote Sugar Refinery Plc, Aliko Dangote; Group Managing Director/CEO, Dangote Sugar Refinery Plc, Ravindra Singhvi; and Non-Executive Director, Dangote Sugar Refinery Plc, Olakunle Alake at the 16th Annual General Meeting of Dangote Sugar Refinery Plc held in Lagos on June 15, 2022

Dangote Sugar Refinery Plc has declared a loss after tax of N27.027 billion for the period ended, 30 September 2023.

The Company reported a revenue of N309.713 billion for the 9 months period, up by 7.42% from N288.32 billion reported the previous year.

A loss after tax of N27.027 billion was recorded for the 9 months period as against the N24.832 billion profit after tax reported the previous year.

Earnings per share of the Company for the period under review stands at negative N2.23.

At the share price of N63.75, the P/E ratio of Dangote Sugar stands at -28.65x with earnings yield of -3.49%.

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