FY 2018: Dangote Sugar Plc’s profit drops by 44.8%

Dangote Sugar Plc has released its financial statements for the year ended Monday, December 31, 2018. Below are the key highlights of the results:

Revenue 

The company recorded a revenue of N150 billion for the period under review, compared to N204 billion in 2017. This represents a 26.4 percent decrease year on year.

Profit before tax

Dangote’s profit before tax decreased from N54 billion in 2017 to N35 billion in 2018, representing a 35.4 percent decrease year on year.

Profit after tax

The company’s profit after tax also dropped from N40 billion in 2017 to N22 billion in 2018. This represents a 44.8 per cent decrease.

Earnings per share

Dangote Sugar recorded earnings per share of N1.85 in 2018 compared to N3.31recorded in 2017. This represents a 44.1 per cent decrement.

Source: Daily Post

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