MORE DOUGH$ IN THE BOX…Dangote sugar records a profit of $ 71.37m in Q3

Aliko Dangote

Dangote Sugar Refinery (DSR) recently announced a pre-tax profit of N14.22 billion ($ 71, 374,872.60 at 0.0050 US Dollar rate) for its third quarter which ended in September, 2015. A small increase, in comparison to the N13.97 billion ($70,120,040.10 at 0.0050 US Dollar rate) pre-tax profit recorded a year ago. Just last week, reports showed a high turnover and profit margin for the company’s cement brand, Dangote Cement Plc.
The unaudited report of the past nine months shows a 5 percent gross profit increase from N18.63 billion ($ 93,510,117.90 at 0.0050 US Dollar rate) last year, to N18.80 billion ($ 94, 363, 404.00 at 0.0050 US Dollar rate).

Profit after tax increased to N9.34 billion ($46,880,542.20 at 0.0050 US Dollar rate) from N9.15 billion ($ 45, 926,869.50 at 0.0050 US Dollar rate) in the same period in 2014. Production at Savannah Sugar, a subsidiary of the group, increased…