Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Nigeria
  4. Nigerian Stock Exchange
  5. Dangote Sugar Refinery Plc
  6. News
  7. Summary
    DANGSUGAR   NGDANSUGAR02

DANGOTE SUGAR REFINERY PLC

(DANGSUGAR)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Dangote Sugar Refinery : Nigeria to Earn $700m Annually From Sugar Backward Integration - Dangote

05/28/2021 | 03:06am EDT

The Chairman of Dangote Sugar Refinery(DSR) Plc Aliko Dangote, has urged government to faithfully follow through the Backward Integration Policy (BIP)in the sugar industry as the nation stands to rake in foreign exchange up to $700millon yearly from Sugar production self-sufficiency.

Speaking at the 15th annual general meeting (AGM) in Lagos, yesterday, he said allowing distortions in the sugar masterplan framework could adversely affect the target of the nation attaining self-sufficiency as projected.

According to him, BIP is a commendable policy that will not only reduce imports of raw sugar but save the nations enormous foreign exchange used for importation.

He said: "The BIP in the Sugar industry is going on well if the National Sugar Master Plan is followed strictly and the players all follow the rules, the country will be better for it as Nigeria will save between $600million and $700 million annually as forex."

He disclosed that the backward integration policy of DSR was recording appreciable progress even as he declared the company's irrevocable commitment to the policy.

Speaking on the performance of the company, he said that despite the disruptions in the economy occasioned by the Covid-19 pandemic, DSR recorded an increase in production volume which rose by 13.7 percent to 743,858 tonnes in the financial year ended December 31, 2020, compared to 654,071 tonnes in 2019.

According to him, turnover of N214.3 billion was recorded in 2020, showing a 33per cent increase over the N161.1 billion in 2019.

Profit after taxation increased by 33.2 per cent to N26.70 billion as against N22.36 billion in 2019. The board of the company declared a dividend payment of N18.22billion to the shareholders, amounting to 150 kobo per ordinary share of 50k each.

According to Dangote, the improvements were attributable to operations optimisation strategy despite disruption caused by civil unrest in last quarter of the year.

"Our growth continued to benefit from the sustained efforts to drive customer base expansion and several trade initiatives and investments."

Also speaking, the Group Managing Director/Chief Executive Officer, DSR Plc Mr. Ravindra Singhvi, said the sugar group continued the growth path with commitments to improve performance and generate value for all stakeholders.

He explained that this was reflected in the sales volume delivery of 731,701 tonnes, and production of 743,858 tonnes being 6.9 per cent and 13.7 per cent increase in volumes over the comparative year 2019.

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

All news about DANGOTE SUGAR REFINERY PLC
09/30DANGOTE SUGAR REFINERY : Notice of board meeting (bm)
PU
09/22DANGOTE SUGAR REFINERY : Sugar Master Plan Will Fetch Nigeria U.S.$700 Million Yearly - Da..
AQ
08/02DANGOTE SUGAR REFINERY : Cement Record N322 Billion Revenue in H1
AQ
07/29Dangote Sugar Refinery plc Reports Earnings Results for the Half Year Ended June 30, 20..
CI
06/09DANGOTE CEMENT : Emerges Overall Winner At Kaduna Trade Fair
AQ
06/04DANGOTE SUGAR REFINERY : Unveils New Sugar Brand
AQ
05/28DANGOTE SUGAR REFINERY : Nigeria to Earn $700m Annually From Sugar Backward Integration - ..
AQ
04/29Dangote Sugar Refinery plc Reports Earnings Results for the First Quarter Ended March 3..
CI
04/26DANGOTE SUGAR REFINERY : U.S.$500 Million Sugar Complex and Quest for Sufficiency
AQ
04/19DANGOTE SUGAR REFINERY : $700m Investments Will Promote Infrastructure Devt, Says Company
AQ
More news
Financials
Sales 2021 270 B 659 M 659 M
Net income 2021 31 643 M 77,2 M 77,2 M
Net cash 2021 65 266 M 159 M 159 M
P/E ratio 2021 6,91x
Yield 2021 8,93%
Capitalization 219 B 532 M 533 M
EV / Sales 2021 0,57x
EV / Sales 2022 0,61x
Nbr of Employees 2 821
Free-Float 27,7%
Chart DANGOTE SUGAR REFINERY PLC
Duration : Period :
Dangote Sugar Refinery Plc Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 6
Last Close Price 18,00 NGN
Average target price 21,83 NGN
Spread / Average Target 21,3%
EPS Revisions
Managers and Directors
Ravindra Singh Singhvi Managing Director
Debola Falade Chief Financial Officer
Aliko Dangote Chairman
Hassan Salisu Head-Human Resources & Administration
Konyinsola Ajayi Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
DANGOTE SUGAR REFINERY PLC2.27%532
NESTLÉ S.A.12.66%351 077
MONDELEZ INTERNATIONAL, INC.4.04%85 029
YIHAI KERRY ARAWANA HOLDINGS CO., LTD-42.86%52 567
THE KRAFT HEINZ COMPANY5.14%44 580
DANONE4.58%42 424