Dangote Sugar Refinery (DSR) Plc has reported a whooping profit after tax

Despite the Economic crises the Dangote Sugar Refinery (DSR) Plc has reported a whooping profit after tax (PAT) of N14.4 billion for the year ended December 31, 2016, showing an increase of 29 per cent above the N11.14 billion in 2015.

According to the audited results, gross revenue rose by 68 per cent from N101.06 billion in 2015 to N169.72 billion.

Profit before tax stood at N19.61 billion, up from N16.16 billion, while PAT grew to N14.4 billion as against N11.4 billion in 2015. Earnings per share similarly rose from 93 kobo to 120 kobo. The board of directors of the company has recommended a dividend of N7.2 billion, which translates into 60 kobo per share.

Commenting on the results, acting Group Managing Director, DSR Plc, Abdullahi Sule, said: “We are very pleased with the results for the period under review, our revenue grew by 68 per cent and improve sales volume compared to 2015 despite the current macro-economic challenges. Our focus in the current year and for the future remains leveraging our strengths to maximize every opportunity to generate sales, increase our market share and create sustainable value for our stakeholders.”