BREAKING: Dangote Sugar Refinery declares N22.11bn loss in H1 2025
Despite increasing revenue, Dangote Sugar Refinery Plc on Thursday announced a N22.11 billion loss before tax in first half (H1) ended June 30, 2025, as against N211.42 billion loss before tax declared in half year ended June 30, 2024.
The sugar processing company listed on the Nigerian Exchange Limited (NGX) in its profit & loss figures declared a loss of N24.27 billion in H1 2025 from N144.01 billion loss reported in H1 2024.
The company in the period under review announced N430.21billion revenue, representing an increase of nearly 46 per cent from N295.62billion reported in H1 2024.
The revenue breakdown showed that the sales of sugar-50kg worth N416.85billion was sold in H1 2025 from N284.19billion in H1 2024, while sales of sugar-retail moved from N8.6billion in H1 2024 to N10.32billion in H1 2025.
In addition, the revenue from the sale of molasses stood at N3.29billion in H1 2025 from N2.56billion in H1 2024, as freight income dropped to N39.8million in H1 2025 from N267.82million in H1 2024.
With the loss, the company’s basic earnings per share stood at negative N2.00 per share in H1 2025 from negative N11.86 per share.
Finance cost and cost of sales in H1 2025 contributed to the company poor performance, to underline macroeconomy challenges companies in Nigeria are facing.
As cost of sales closed H1 2025 at N378.53 biillion, about 36 per cent increase over N277.5billion in H1 2024, finance cost moved from N234.2billion in H1 2024, about 72.3 per cent drop from N64.97 billion in H1 2025.
From the balance sheet position, Dangote Sugar refinery posted N1.05 trillion total assets as of June 30, 2025, about 47 per cent increase from N714.65billion declared in i2024 full financial year performance.
