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    DANGSUGAR   NGDANSUGAR02

DANGOTE SUGAR REFINERY PLC

(DANGSUGAR)
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Dangote Sugar Refinery : , Cement Record N322 Billion Revenue in H1

08/02/2021 | 12:06pm EST

Dangote Sugar Refinery and Dangote Cement have recorded N322 billion revenue in the first half (H1) of 2021.

The sugar subsidiary posted N131.95bn revenue in its unaudited financial results, according to its Group Managing Director/CEO of the refinery, Ravindra Singhvi, in a statement.

The revenue grew by 27.8 percent compared to N103.23bn recorded in H1 2020.

The Gross Profit grew by 37.3% to N28.59bn over N20.82bn in 2020 H1 while Group sales volume increased to 388,589 tonnes and production volume rose by 7.6% to 403, 846 tonnes.

Commenting, Singhvi said, "We commenced the year on a strong footing with impressive performance in the first half as the financial results have shown, with a stronger Q1 top line growth and a robust Q2 top line growth year on year.

For Dangote Cement, it posted N191.6bn profit as Profit After Tax (PAT) of N191.6bn, after it removed a tax charge of N89.6bn.

In his remarks, the Group Managing Director, Mr Michel Puchercos, said, "In the period under review, Nigerian operations of the company accounted for a sales volume of 9.87 metric tonnes (Mt), while pan African operations contributed the balance of 5.5Mt.

"Our performance reflects the strong demand across the group, with increases in revenue and profitability, compared to the same period last year," he said.

Copyright Daily Trust. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

Stocks mentioned in the article
ChangeLast1st jan.
DANGOTE CEMENT PLC 0.00% 280 End-of-day quote.14.33%
DANGOTE SUGAR REFINERY PLC -3.13% 15.5 End-of-day quote.-11.93%
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Financials
Sales 2021 269 B 657 M 657 M
Net income 2021 37 363 M 91,2 M 91,2 M
Net cash 2021 65 266 M 159 M 159 M
P/E ratio 2021 5,03x
Yield 2021 9,76%
Capitalization 188 B 458 M 460 M
EV / Sales 2021 0,46x
EV / Sales 2022 0,50x
Nbr of Employees 2 815
Free-Float 27,7%
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Number of Analysts 6
Last Close Price 15,50 NGN
Average target price 21,86 NGN
Spread / Average Target 41,0%
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Managers and Directors
Ravindra Singh Singhvi Managing Director
Debola Falade Chief Financial Officer
Aliko Dangote Chairman
Hassan Salisu Head-Human Resources & Administration
Konyinsola Ajayi Independent Non-Executive Director
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