Dangote Sugar Refinery (DSR) Plc witnessed appreciable growths in sales and profitability in 2022 with pre-tax profit rising by 142 per cent to N82.3 billion. Key extracts of the audited report and accounts of DSR for the year ended December 31, 2022 showed that profit before tax grew to N82.3 billion in 2022 as against N34.billion recorded in 2021. Profit after tax also rose to N54.74 billion, representing an increase of 148 per cent on N22.05 billion posted in 2021. Total revenue had risen by 45 per cent from N278.05 billion to N403.25 billion. Earnings per share thus rose from 182 kobo per share to 451 kobo per share, an increase of 269 kobo or 148 per cent. The report showed that DSR is significantly scaling up its investment in the sugar sub-sector in line with the requirement of the Nigeria Sugar Master Plan (NSMP), with huge investments in Adamawa State through the expansion of DSR Numan Sugar Refining capacity from 3,000 tonnes of cane per day (tcd) to 6,000 tcd, and to 9,800 tcd. Chairman, Dangote Sugar Refinery (DSR) Plc, Alhaji Aliko Dangote, explained that increasing the sugar refining capacity would require a corresponding increase in sugarcane production capacity. He said the company has concluded plans to increase its sugar plantation from the current land area under cane production of about 8,700 hectares in 2022 to about 24,200 hectares within the next seven years.
Dangote Sugar Refinery
