2014 H1: Gas Supply, Maintenance Upgrades Cost Dangote Sugar 10% Drop In Revenue

Dangote Sugar released its 2014 half year results showing a 9.8% drop in revenue to N49.6billion compared to N55billion posted a year earlier. The drop in revenue was partly due to “maintenance upgrade at the Apapa refinery” as well as “gas supply disruptions”. Sugar sales volumes also dropped 1.1% to 420, 862 tonnes.

Cost of sales dropped 7.5% to N36.6billion compared to N39.6billion. The company explained the drop in sales was due to a 16.6% lower “enabling 12% price cut to consumers”. Pre-tax profits was down 4.4% year on year to N10.3billion.

You can download the result below

[gview file=”https://cdn.nairametrics.com/wp-content/uploads/2014/08/DANGOTE_SUGAR_HALF_YEAR_JUNE_2014_FINANCIAL_STATEMENTS_AUGUST_2014.pdf”]