Dangote Sugar Refinery Plc has reported a reduction in its losses for the first half of 2025, posting a deficit of N24.3 Million, an 83% drop from the N144 million loss recorded in H1 2024.
According to the company’s unaudited financial statement, revenue rose by 45.53% to N430.2 million from N285.6 million in the same period last year. Loss before tax dropped drastically by 89.5%, falling to N22.1 billion from N211.4 billion.
While finance income declined to N2.86 billion from N4.24 billion, finance cost dropped from N234.19 billion to N64.97 billion.
On a quarter-on-quarter basis, Q2 2025 finance income declined by 81% to N457.49 million, compared to N2.35 billion in Q2 2024.
Gross profit grew by 185% to N51.68 billion, up from N18.14 billion, while operating profit climbed 269% to N38 billion, compared to N10.3 billion in the previous year. However, earnings per share dropped to N2.0 from N11.86.
The company’s total assets grew to N1 trillion from N714.65 billion, while total liabilities increased to N848.28 billion from N779.42 billion.
Despite the lingering loss, the improvement in performance, compared to the previous year reflects successful cost control measures and a gradual recovery of operational efficiency.
