Index to Nigerian Newspapers

Dangote Sugar Loses N193bn

Dangote Sugar Refinery reported a loss after tax of one hundred ninety-two point six billion naira for the financial year ending December 2024, marking a significant increase from the previous year's loss. Although the company achieved a fifty-one percent increase in revenue to six hundred sixty-five point six billion naira, soaring production costs and a dramatic surge in finance expenses severely eroded its profitability, widening its pre-tax loss. Despite these heavy financial losses, a substantial revaluation surplus boosted the firm's total comprehensive income, while its total assets grew significantly to over one trillion naira, driven by increases in property, plant, and equipment. In response to these financial pressures, the company launched an offering to raise fifty billion naira from debt capital market investors through commercial papers.

AINA, Temitope | 1. Corporations -- Finance -- Nigeria 2. Financial statements -- Nigeria | Punch Newspaper | Wednesday, March 05, 2025