Dangote Sugar production increases to 811,962 tonnes

Dangote Sugar reports that its production volume increased by 9.2% to 811,962 tons at the end of December 31, 2021, from 743,858 tons in the corresponding period of 2020.

It said in a statement that this volume was achieved through improved operational efficiency despite the negative impact of Apapa’s perpetual traffic jam situation.

The company recorded a gross profit of N50.21 billion and an after-tax profit of N22.05 billion, he said.

He said the group’s revenue of N276.50 billion for the full year represents an increase of 28.8 percent from the N214.3 billion recorded in 2020.

The company also recorded an increase in group sales volume, which increased by 5.7% to 773,341 tons against 731,701 tons in 2020.

Dangote Sugar Refinery, in its 2021 audited results, said growth in 2021 was supported by positive market responses to major trade interventions introduced during the year.

“The group’s production volume increased by 9.2% to 811,962 tonnes from 743,858 tonnes and was achieved through improved operational efficiency despite the negative impact of the permanent Apapa bottleneck situation,” said he declared.

The company said it recorded a gross profit of N50.21 billion and an after-tax profit of N22.05 billion.

Group Managing Director, Dangote Sugar Refinery, Ravindra Singhvi said, “Our impressive performance during the year demonstrates our resilience in the face of ongoing challenges, which is rightly reflected in the strong revenue growth. shown in the financial results.

“During the year under review, we concluded the integration of our new 50 kg packaging for fortified and non-enriched sugar bags in the market.

“It has refreshed our brand personality and led to a deeper bond with the Dangote Sugar brand among our valued customers and consumers while maintaining our market presence and leadership with product quality.”

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Rachel J. Bradford