Dangote Sugar Returns to Profit with N78.17 Billion Earnings

Dangote Sugar Refinery Plc recorded a profit before tax of N78.17 billion for the nine months ending 30 September 2026, a significant recovery from a loss before tax of N8.72 billion in the corresponding period of 2025. This return to profitability occurred despite a 9.07% decline in revenue, which fell to N569.41 billion.

The company's gross profit increased due to a sharper decline in the cost of sales compared to sales. The bulk of revenue was generated from its 50kg sugar product, amounting to N555.10 billion.

Other income rose to N23.78 billion from N12.74 billion. The financial statements indicated a substantial reduction in borrowings, with total external debt decreasing to N89.32 billion from N736.22 billion year-on-year.

A rights issue raised approximately N485.88 billion, with about 8.10 billion new ordinary shares issued at N60 each. The share price stood at N68.00 as of 30 September 2026, reflecting a 12.9% year-to-date growth.