Saturday, July 20, 2024

 

Dangote Sugar 9 Months’ Profit Hits N36.27bn

Must Read

Ogun Approves Construction Of Additional Five Roads

  The Ogun State Executive Council has approved the construction of five additional roads across the State. Commissioner for Works and...

Ogun State Set to Register Additional 100,000 Farmers Under OGFIMS

    The Ogun State Government has announced plans to register an additional 100,000 farmers under the Ogun State Farmer Information...

Court Orders 9mobile To Pay ,N55bn Debt To Keystone Bank

  A Federal High Court, sitting in Lagos presided over by Justice Yelin Bogoro has ordered Teleology Nigeria Limited, owners...

 

Dangote Sugar Refinery Plc has announced a Profit Before Tax (PBT) of N36.27 billion for a duration of nine months which ended on September 30, 2022.
The Group Managing Director, Dangote Sugar Refinery Plc, Ravindra Singhvi, made this known via a statement issued on Sunday.

He said the company’s PBT rose by N13.17 billion compared to N23.10 billion posted in the corresponding period in 2022.

Singhvi added that the Profit After Tax (PAT) rose from N15.51 billion to N24.83 billion, while revenue went up from N195.50 billion to N288.32 billion.

He attributed the positive results for the period to key trade interventions introduced during the year and positive market responses.

He recalled that the company recorded a PBT of N29.73 billion for the half year which ended on June 30, 2022, noting that PAT hit N20.24 billion in that period.

“Our 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,” he said.

Singhvi said Dangote Sugar Refinery had continued to implement its sugar backward integration projects plans and enhance its outgrowers scheme to support the economic growth of the immediate communities.

He said the company’s aim was to develop a robust outgrower scheme with no fewer than 5,000 outgrowers when the projects have fully taken off.

This, he explained, was in addition to the achievement of other targets of its ‘Sugar for Nigeria Project’ plan.

“The key focus of the sugar refinery is achievement of the Dangote Sugar Backward Integration Projects targets and putting Nigeria on the path of sugar self-sufficiency and the world sugar map.

“Employees health and safety as well as that of its partners remains a top priority at the company’s operations at the Apapa Refinery, its Sugar Backward Integration Operations in Numan, Adamawa and Tunga, Nasarawa.“All processes are in compliance with stipulated health and safety protocols,” he said.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -
Latest News

Ogun Approves Construction Of Additional Five Roads

  The Ogun State Executive Council has approved the construction of five additional roads across the State. Commissioner for Works and...

Ogun State Set to Register Additional 100,000 Farmers Under OGFIMS

    The Ogun State Government has announced plans to register an additional 100,000 farmers under the Ogun State Farmer Information Management System (OGFIMS), bringing the...

Court Orders 9mobile To Pay ,N55bn Debt To Keystone Bank

  A Federal High Court, sitting in Lagos presided over by Justice Yelin Bogoro has ordered Teleology Nigeria Limited, owners of 9Mobile Network, to pay...

Osunbiyi Alagbo Onilewaji Family Warns Against Trespassing On Land …Says court judgement fully executed 

Consequent upon the judgement of a Lagos state High Court,Epe division presided over by Justice S.A Olaitan, the Osunbiyi Alagbo Onilewaji Family of ibeju...

Dangote Group Targets $30bn Revenue To Strengthen Naira

The President of Dangote Group, Aliko Dangote, has said that his businesses’ $30bn revenue target by the end of 2025 will boost the naira. Dangote...
- Advertisement -

More Articles Like This

- Advertisement -