CORPORATE BRIEF: Dangote Sugar PLC released its unaudited third-quarter earnings. 

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Dangote Sugar Plc recently released its unaudited third-quarter earnings. 

The revenue increase was impacted by a rise in refined sugar prices. Revenue from Lagos accounted for a huge chunk of the total.

Growth witnessed in the Administrative expenses occurred as a result of increase in management and royalty fees and cost of travelling overseas.

Key Highlights:

  • The revenue increase was impacted by a rise in refined sugar prices. Revenue from Lagos accounted for a huge chunk of the total.
  • Growth witnessed in the Administrative expenses occurred as a result of the increase in management and royalty fees and cost of traveling overseas.
  • Selling & distribution expenses significantly declined due to a huge reduction in both carriage and marketing costs. This contributed to the cost management strategy of the firm.
  • Investment income surged due to interest earned on the short term deposits made by the firm which grew from 12 billion to 30 billion.
  • Finance cost rose due to bank charges paid on a borrowing from zenith bank in 2016. This increased borrowing increased the leverage of the firm as witnessed in its leverage ratio.
  • The firms Q3 2017 net income exceeded that of the full year 2016. We expect this strong performance to culminate to an increase in dividend.
Kindly click on this link  to see full details on the Corporate Brief of the firm.
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