Dangote Sugar Refinery Plc recorded a strong rebound in the third quarter of 2025, posting a pre-tax profit of N13.38 billion, a sharp turnaround from the N64.16 billion loss reported in Q3 2024.

This quarterly rebound helped trim the company’s nine-month loss to N8.7 billion in 2025, an improvement from N275.5 billion in the previous year, according to its unaudited results.

A cursory look shows that the improved results were driven by steady revenue growth, higher other income, and a significant decline in finance costs relative to revenue.

Dangote Sugar’s Q3 2025 revenue rose by 3.8% year-on-year to N196.02 billion from N188.80 billion in the same period last year, reflecting a modest growth.

However, the cost of sales dropped to N157.64 billion in Q3 2025 from N187.12 billion a year earlier. This sharp 15.8% decline in direct costs lifted gross profit to N38.38 billion — a dramatic recovery from just N1.68 billion in Q3 2024.

The results show that while top-line growth was modest, profitability rebounded strongly as the company maintained tight cost control.

Dangote Sugar recorded an operating profit of N43.02 billion in Q3 2025, compared to an operating loss of N2.16 billion in the same quarter last year.

Administrative expenses increased to N7.57 billion from N4.08 billion a year earlier, while impairment charges came in at N134.4 million, up from N47.6 million.

Despite higher administrative costs, other income drove a solid swing to positive operating performance year-on-year.

The group’s Q3 2025 profit was boosted by a sharp drop in finance costs.

The company also recorded a fair value gain of N497.8 million, slightly below the N1.29 billion posted in Q3 2024.

Consequently, profit before tax rose to N13.38 billion in Q3 2025, reversing a loss of N64.16 billion in the same quarter last year. Profit after tax also improved to N13.68 billion, compared to a loss of N40.34 billion in Q3 2024.

Dangote Sugar’s balance sheet expanded across key assets, though debt remains high.

As of October 31, 2025, the company’s shares were priced at N60.50, reflecting a year-to-date gain of 86%.