Dangote Sugar Refinery Plc started the 2019 business year on a strong footing as the Nigeria-based company, which engaged in refining raw sugar into edible sugar and sales of refined sugar recorded 32.68% growths in Profit After Tax (PAT) for the first quarter, 2019 settling at N7 billion above N5 billion garnered in 2018 quarter one.
Another Key extract from the interim report and accounts of the company is the Turnover, which declined by 7% for the three-month period ended March 31, 2019 to arrive at N38 billion away from N41 billion recorded same period last year
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The company’s unaudited Financial Statement released to the market on April 29th showed that the shareholders EPS rose to N0.58 which is 32.68% better than N0.44 reported in Q1’18
The current PE Ratio and Earnings yield stood at 23.99x and 4.17% with stock value of N14.00, it traded on Monday respectively
Dangote Sugar Refinery Plc specializes in the refining of raw sugar into edible sugar and sells refined sugar. The Company’s products include Vitamin A-fortified sugar and unfortified industrial sugar.
The Company’s Vitamin A fortified sugar is a fine white granulated sugar, which is the all-purpose white sugar that is ideal for table use, baking and sweetening of beverages while the Company’s unfortified sugar is a specially processed sugar grade used by pharmaceuticals, food and beverage manufacturing companies. The Company produces and packages Vitamin A fortified refined white sugar in approximately one kilogram, approximately 500 grams, approximately 250 grams and over 50 kilograms bags for direct consumption under the brand name Dangote Sugar, as well as the unfortified white sugar for industrial use.