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Dangote Sugar Posts N54bn Profit Before Tax In 2017 - Business - Nairaland

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Dangote Sugar Posts N54bn Profit Before Tax In 2017 by Okwyla: 3:59am On Apr 02, 2018
Dangote Sugar Plc has posted a profit before tax of N53.599 billion in its full year ended December 31, 2017. The company’s result released on the Nigerian Stock Exchange at the weekend revealed that profit before tax for the period increased by 173 per cent to N53.599 billion from N19.614 billion recorded in the corresponding period of last year. Also, the sugar refiner’s group profit after taxation for the year increased by 176.3 per cent to N39.78 billion compared to N14.395 billion in 2016, while its earnings per share rose to N3.31 from N1.20 in 2016. The management of the company proposed a final dividend of N1.25 per share, bring the total dividend for the 2017 business year to N1.75 per share. The company had earlier paid interim dividend of 50 kobo per share. Furthermore, Dangote Sugar grew its revenue for the period by 20.44 per cent to N204.42 billion from N169.72 billion a year ago, which was driven by price of refined sugar. In the financial results, the firm said its gross profit increased for the period by 121.8 per cent to N50.99 billion from N22.99 billion recorded last year as a result of different strategies the management put in place to save cost. The Group liquidity position improved from N35 billion to N41 billion as at December 31, 2017. The company’s EBITDA up 113 per cent to N51.4 billion from N24.14 billion, while EBITDA margin stood at 25.15 per cent up from 14.2 per cent. Speaking on the results, acting group managing director, Abdullahi Sule, said, “we are very pleased with the 2017 business year, with an increased revenue growth of 20.4 per cent over N167.7 billion recorded during the same period in 2016, and N28 billion gross profit increase of 121.8 per cent, the best recorded in the history of the company.” For 2018, Sule said “our focus remains the actualization of our Backward Integration Programme (BIP) plan with focus on the achievement of 1.080 million metric tonnes (MMT) sugar from our BIP sites in the next 6 years.” He added that while concerted efforts are being made to leverage our strengths and maximise every opportunity to increase the company’s market share and create sustainable value for all stakeholders.

http://www.akelicious.net/2018/04/dangote-sugar-posts-n54bn-profit-before.html

1 Like 1 Share

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by overhypedsteve(m): 7:17am On Apr 02, 2018
Dangote is a successful industrialist. If we had more of him in Nigeria, Nigeria would have been in a Mich better shape.


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3 Likes

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by Ellabae(f): 7:17am On Apr 02, 2018
Good for them
Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by Antoeni(m): 7:19am On Apr 02, 2018
To God be the Glory
Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by Lanre4uonly(m): 7:20am On Apr 02, 2018
That's good.

1 Like

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by Olalan(m): 7:20am On Apr 02, 2018
Very good year for them, but just hoping the monopoly given to them wouldn't backfire in the nearest future

2 Likes

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by buygala(m): 7:25am On Apr 02, 2018
Nice


They sure had a Sugary year smiley

5 Likes

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by Worldbest281: 7:27am On Apr 02, 2018
who dangote EPP??
Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by Hardeybohwarley(m): 7:29am On Apr 02, 2018
More good news to any hardworking Individual.
Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by axeman2(m): 7:30am On Apr 02, 2018
his money his business
Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by BedLam: 7:30am On Apr 02, 2018
Olalan:
Very good year for them, but just hoping the monopoly given to them wouldn't backfire in the nearest future
Nothing lasts forever. Companies like these thrive only when there’s lack of innovation and innovation brings about fair competition.
Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by Lorechino(m): 7:30am On Apr 02, 2018
As political scientist cum Analyst, Dangote is the top undisclosed store house of Looted funds in this country since 1999, am not hating EVERY NIGERIAN IS A POTENTIAL THIEF, UNLESS YOU HAVE NOT SEEN WHAT TO STEAL. - I AM OPARAKU

9 Likes

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by ultron12345: 7:33am On Apr 02, 2018
congratulations to Mr. dangote, the top executive management and the board of directors as well as the shareholders. Just watch as some enemies of progress come here to cry monopoly.

3 Likes

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by josh005(m): 7:34am On Apr 02, 2018
Thats what it would be since they stopped the importation of st. Louis

1 Like

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by EmmyOD(m): 7:35am On Apr 02, 2018
Please how can I buy shares for my little kids in Dangote group... I need a reliable advice Pls dear nairalanders
Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by josh005(m): 7:36am On Apr 02, 2018
Thats what it would be since they stopped the importation of st. Louis.

1 Like 1 Share

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by ultron12345: 7:36am On Apr 02, 2018
Olalan:
Very good year for them, but just hoping the monopoly given to them wouldn't backfire in the nearest future
and how is it a monopoly, is it the only sugar producer in Nigeria, what about bua sugar and golden penny sugar, is it sand they are producing.

10 Likes 3 Shares

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by EarthXmetahuman: 7:37am On Apr 02, 2018
Good


I stopped buying st Louis and started by dangote Sugar too since last year

1 Like 1 Share

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by kenodrill: 7:38am On Apr 02, 2018
Successful dangote.he started well and still at the peak of his game.anyways...beware of diabetes!
Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by papoudaupolos: 7:42am On Apr 02, 2018
Lorechino:
As political scientist cum Analyst, Dangote is the top undisclosed store house of Looted funds in this country since 1999, am not hating EVERY NIGERIAN IS A POTENTIAL THIEF, UNLESS YOU HAVE NOT SEEN WHAT TO STEAL. - I AM OPARAKU
Before your village came into existence, Dangote family are the biggest merchants in West Africa.

2 Likes

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by nzube89(m): 7:42am On Apr 02, 2018
Great progress for the company and owners
Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by Acidosis(m): 8:04am On Apr 02, 2018
ultron12345:
and how is it a monopoly, is it the only sugar producer in Nigeria, what about bua sugar and golden penny sugar, is it sand they are producing.

These guys you're quoting don't understand the difference between market leader and monopoly.

3 Likes

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by Pesuzok(m): 8:09am On Apr 02, 2018
EmmyOD:
Please how can I buy shares for my little kids in Dangote group... I need a reliable advice Pls dear nairalanders

You have to buy through a stockbroker. I use morgan capital, http://morgancapitalgroup.com/

They will give you online access to Nigeria stock exchange for you to buy stocks online in real time.

No need calling anybody to buy or sell a stock, you can do that from the comfort of your home
Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by holuphisayor(m): 8:11am On Apr 02, 2018
yet to see how many billions Nigeria itself posted.
Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by oruma19: 8:14am On Apr 02, 2018
54 billion on ordinary sugar in a year. God, the few are killing the vast majority. A profit of 54 billion naira on sugar is absurd. It means sugar is 100 times costlier than it should be. Dangote's tinz are always like dat, his cememnt is cheaper in other afican countries than in nigeria. Meanwhile raw material is readily availy here too. I hope they bury these capitalist niggas with their money cos they sure will die someday.

2 Likes

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by oruma19: 8:17am On Apr 02, 2018
Lorechino:
As political scientist cum Analyst, Dangote is the top undisclosed store house of Looted funds in this country since 1999, am not hating EVERY NIGERIAN IS A POTENTIAL THIEF, UNLESS YOU HAVE NOT SEEN WHAT TO STEAL. - I AM OPARAKU
gbamsolutely

1 Like

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by IamaNigerianGuy(m): 8:31am On Apr 02, 2018
EmmyOD:
Please how can I buy shares for my little kids in Dangote group... I need a reliable advice Pls dear nairalanders

Don't.

Instead buy land or houses, invest in treasury bills or fixed deposits and roll over principal plus interest.

1 Like

Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by oyewolestephen(m): 9:20am On Apr 02, 2018
no wonder why sugar is very expensive. so they had accumulated this exploitative profit at the expense of the consumers
Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by ubox: 9:28am On Apr 02, 2018
josh005:
Thats what it would be since they stopped the importation of st. Louis
I was wondering why I don't see St Louis sugar anymore, now forced to buy any kinda sugar on the shelf
Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by infj: 11:17am On Apr 02, 2018
ultron12345:
congratulations to Mr. dangote, the top executive management and the board of directors as well as the shareholders. Just watch as some enemies of progress come here to cry monopoly.



Abi ooo like say government dey restrict dem to start their own company. We also know another sugar company.. BUA also a popular brand of sugar
Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by ultron12345: 11:30am On Apr 02, 2018
oruma19:
54 billion on ordinary sugar in a year. God, the few are killing the vast majority. A profit of 54 billion naira on sugar is absurd. It means sugar is 100 times costlier than it should be. Dangote's tinz are always like dat, his cememnt is cheaper in other afican countries than in nigeria. Meanwhile raw material is readily availy here too. I hope they bury these capitalist niggas with their money cos they sure will die someday.
why don't you open your own sugar refinery and begin selling at N5 for 50kg. If he makes less than he's peers in other countries, you will complain, insulting buhari and saying Nigeria is bad for business, now that he makes more, u say he is exploiting. Whether you like it or not, this is a testament to the fact that Nigeria is one of the best places in the world to do business.
Re: Dangote Sugar Posts N54bn Profit Before Tax In 2017 by banio: 2:07pm On Apr 02, 2018
How much is he paying those that worked out the money. Hope those factory workers risking their lives are paid up to #300k per month.

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