Dangote Sugar Refinery PLC (DANGSUGAR) shows an impressive topline performance in Q3-2020 as gross revenue surge by 36.70%. The company generated N160.51 bn revenue in Q3-2020 driven by N153.80bn and N5.10bn in the wholesale and retail segment.
Dangote Sugar’s Revenue from the Wholesale (50kg) and retail segment advanced by 38.30% and 18.65% compared to the N111.20 and N4.3bn generated in Q3-2019. This was followed by a 42.94% increase in the cost of sales from N88.41bn to N126.37bn in Q3-2019 and Q3-2020 respectively.
Dangote Sugar gross profit advanced by 17.67% with a 21.72% increase in operating profit. Consequently, profit before tax advanced by 26.60% from N22.97bn to N29.01bn in the current period. A 70.38% reduction in tax expenses also pushes the profit after tax by 81.13%.
The company generated N26.63bn in PAT representing a 16.59% Net Profit Margin compared to the N14.70bn with a 12.52% Net Profit Margin in Q3-2019. In summary, earnings per share advanced by 76.61% from 1.24% to 2.19% in Q3-2019 and Q3-2020 respectively.
