The impact of the harsh operating environment on the operations of Dangote Sugar Refinery Plc seems to be moderating as the company is adjusting well to the current reality, leading to a reduction in its loss in the first half of 2025 by 83.13 per cent.
According to analysis of the financial statements of the firm for the period ended June 30, 2025 filed to the Nigerian Exchange (NGX) Limited, it recorded a loss of N24.3 billion compared with the N144.0 billion loss posted in the corresponding period of last year, when most organisations were still battling with the effect of the devaluation of the Naira and high energy costs.
This trimming of the loss after tax was significantly influenced by the minimal loss achieved in the second quarter of this year, N623.1 million versus the N75.0 billion loss reported between April and June 2024.
Business Post reports that between January and June 2025, Dangote Sugar improved its revenue by 45.54 per cent N430.2 billion from N295.6 billion in the same period of 2024, driven by a broad increase in earnings from the sale of its products to consumers, including sugar and molasses.
It was disclosed that revenue from the sale of 50kg of sugar stood at N416.9 billion in the reporting period from the N284.2 billion recorded in the same period of last year, as the revenue from sugar sales to the retail market accounted for N10.0 billion versus N8.6 billion in H1 of 2024, and the sale of molasses grew to N3.3 billion from N2.5 billion.
The financial statements showed that the gross profit rose by 185.64 per cent to N51.7 billion from N18.1 billion, and the operating profit growing by 269.90 per cent to N38.1 billion from N10.3 billion.
In the results, finance costs gulped N65.0 billion versus N229.9 billion in the first half of 2024, while the finance income from the interests the organisation earned from bank deposits went down to N2.9 billion from N4.2 billion.