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Dangote Sugar Q1, 2012 Profits Up 101% YoY
By Afolabi Ogunde on May 10, 2012
Dangote Sugar has announced its Q1 earnings. The company reported a 24% increase in sales. Turnover for the period was N26.7 billion as against the N 21 .5 billion it made over the same period last year.
Profit before tax came in at N 4.1 billion, up 101% from N 2.04 billion it made in Q1, 2011.
Net income was also up 101% at N 2.8 billion, from N 1.39 billion in Q1, 2011.
The company’s cash reserves stand at N10 billion, up 74% from N 6 billion over the preceding period last year.
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