Dangote Sugar Posts 41% Profit Growth in Q1 2016 Amid Operational Challenges

Dangote Sugar has announced a 41% growth in profit in the first quarter of 2016 despite the challenging operating environment.

The company posted revenue of N32.617 billion, up from N22.522 billion in 2015.

Sales and distribution expenses reduced by 14 per cent from N581 million to N494 million, while administrative expenses and finance cost declined by 7.9 and 7.6 per cent from N1.118 billion to N1.029 billion and from 158 million to N146 million respectively.

Profit before tax (PBT) rose by 34 per cent from N3.798 billion to N5.113 billion, while profit after tax (PAT) rose by 41 per cent from N2.374 billion to N3.339 billion.