Dangote Sugar Cuts Losses by 94%, Posts N626bn Revenue in Nine Months

Dangote Sugar Refinery Plc has reported a revenue of N626.24bn for the nine months ended September 30, 2025, marking a 29 per cent increase from the N484.43bn recorded in the same period of 2024.

According to the company’s unaudited financial statements filed with the Nigerian Exchange Limited (NGX), despite the strong revenue performance, Dangote Sugar recorded a loss after tax of N10.59bn, a sharp improvement compared to the N184.36bn loss posted in the corresponding period of the previous year.

The company attributed the significant reduction in losses to enhanced operational efficiency, lower finance costs, and recoveries from earlier fair value losses on assets.

Gross profit surged to N90.06bn in 2025 from N19.82bn in 2024, driven by higher sales volumes and better cost management. However, administrative expenses rose to N20.53bn from N11.83bn during the period.

While finance income declined to N3.34bn from N6.93bn, finance costs dropped sharply to N95.59bn from N300.17bn, resulting in a net finance loss of N92.25bn, compared to N293.25bn last year.

Dangote Sugar also posted an operating profit of N81.12bn, up significantly from N8.16bn recorded in the same period of 2024.

As of September 2025, the company’s total assets stood at N1.02tn, slightly below N1.05tn reported in December 2024. Shareholders’ equity fell to N198.56bn from N212.28bn, while total liabilities were valued at N817.15bn.

Despite still being in a loss position, the company maintained a robust balance sheet, with property, plant, and equipment worth N615.69bn and inventories valued at N130.5bn.

Earnings per share (EPS) improved to a loss of 87 kobo from a loss of N15.18 in the same period last year, underscoring a substantial turnaround in Dangote Sugar’s financial performance.