Dangote Raises Sugar Production Capacity By 9.2% In 2021

The board of Dangote Sugar Refinery Plc, last week, reported a 9.2% growth in the group’s production volume to 811,962 tonnes from 743,858 tonnes, in the corresponding period of 2020, in what it linked it linked to improved operational efficiency, despite the adverse impact of the perennial Apapa traffic gridlock.

According to the report, presented to the Nigerian Exchange Limited, the group’s revenue increased to N276.5bn for the full year, up by 28.8% from N214.3bn recorded in the year; while gross profit stood at N50.21bn, and profit after taxation, N22.05bn.

Commenting on the performance, the company’s Group managing director, Ravindra Singhvi, said it “demonstrates our resilience in the face of prevalent challenges, which rightly reflected in strong topline growth shown in the financial results.

“During the year under review, we concluded integration of our new 50kg packaging for the fortified and non-fortified sugar bags in the market. This refreshed our brand personality and led to a deeper connection to the Dangote Sugar brand among our valued customers and consumers, whilst sustaining our market presence and leadership with the product quality.

“We also continued our Sustainability journey with the inclusion of United Nations Goal 13 to the Dangote Sugar Strategic Priority SGDs 2, 4, 6, 8 and 12 to ensure we contribute and make meaningful impact to the society. Our Supply Chain Management process is being certified to ISO 40200 (Sustainable Procurement), and Bonsucro Certification is in view”, he added.

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