Dangote Sugar Refinery, the nation’s largest refiner of the sweetener, has said its pre-tax profit rose by 141.9 per cent in the financial year that ended on December 31, 2022.
Profit before tax rose to N82.30 billion from N34.02b in the prior period, the company said in a statement it filed to the Nigerian Exchange Limited on Thursday.
Profit after tax jumped to N54.74b from N22.05b, the company further declared.
The company’s revenue recorded a growth of 46 per cent to N403.25b from N276.05b last year.
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The growth in revenue, combined with a 34.3 per cent decline in net finance costs, led to a jump of 147.8 per cent in earnings per share, which rose to N4.51, N1.82 in the year before.
This EPS record beat the estimate of N2.87 by Cordross, the investment company said in a note to its clients on Thursday.
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