Dangote Sugar Posts N20.6 Billion Profit in Q1 2026

Dangote Sugar Refinery Plc published its first-quarter unaudited financial statement for 2026, reporting a profit before tax of N20.6 billion, marking a strong recovery from a loss of N22.6 billion in the prior year. This turnaround was largely driven by a decline in cost of sales, which fell to N144.6 billion from N204.6 billion, attributed to reduced raw material input costs.

Revenue for the quarter was N187.7 billion, down 12.22% from N213.9 billion, with 50kg sugar contributing 97% of turnover. Retail sales accounted for N182.1 billion, while molasses and freight income contributed N4.6 billion and N1.03 billion, respectively.

The profit before tax improved from a loss of N23.6 billion to a profit of N19.1 billion, with earnings per share rising to N1.58 from a loss of N1.95. The balance sheet showed total assets declining to N926.2 billion, with accumulated losses increasing to N170.6 billion.

The stock market reacted minimally to the quarterly financial report released on April 30, 2026.