Dangote Sugar Refinery, in its unaudited financial results for the first half of 2021 (January to June), posted N131.95 billion revenue.
Gatekeepers News reports that this represents a 27.8 percent increase compared to the N103.23 billion recorded at the same period in the preceding year.
According to the refinery’s report for the period, Gross profit grew double-digit at 37.3 percent to N28.59 billion compared to N20.82 billion at the preceding year due to better topline performance.
Group sales volume increased to 388,589 tonnes while production volume also increased by 7.6 percent to 403,846 tonnes driven by operations optimization drive.
On the Company’s half-year 2021 performance, the Group Managing Director/CEO, Ravindra Singhvi said; “We commenced the year on a strong footing with impressive performance in first half as the financial results have shown, with a stronger Q1 topline growth and a robust Q2 topline growth year on year.
During the period under review we launched our new packaging designs for the 50kg fortified and non-fortified sugar bags with the theme “Dangote Sugar has a new look…. Same Great Quality”.
“The theme reaffirms the quality of our product and inspires a deeper connection to the Dangote Sugar brand among our valued customers and consumers, whilst refreshing our market presence as the leading sugar brand in Nigeria.”
He added, “…as part of our Supply Chain Management Sustainability journey, we continued to enhance our Outgrowers Scheme. The technical and agriculture support provided for them over time has led to the improved yield from our Outgrowers sugarcane farms at the Numan Sugar Estate. This effort will be sustained to ensure the socioeconomic growth of our immediate communities and improved sugar cane supply for production.
Gatekeepers News reports that the team is committed to navigate the second half of the year, keeping the health and safety of our people and partners as top priority. Our Refinery in Apapa and Backward Integration Operations in Numan, Adamawa State and Tunga, Nasarawa State continue to operate in compliance with our health and safety protocols while ensuring our commitment to the environment and sustainable business practices are maintained.”
He stated that the recurrent challenges with Apapa traffic gridlock persisted during the 1st half of the year but expressed optimism that the truck call up system will address the situation. Achievement of the Dangote Sugar Backward Integration Projects targets, he added “remains our focus. We are resolute and will continue in our quest to put Nigeria on the path of sugar self-sufficiency and on the world sugar map.”
