By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Times ReportersTimes Reporters
  • Home
  • News
  • Politics
  • Business
    • Economy
  • Sports
  • Entertainment
  • About Us
  • Bookmarks
Search
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Reading: Dangote Sugar Declares N82.3b Profit For 2022
Share
Sign In
Notification Show More
Latest News
Military Vows Clampdown on Wulowulo Terrorist Sect in North-Central
Defence Metro News
Businessman Ejiofor Decries Demolition of His N500 Million Mansion in Lagos
Uncategorized
UBEC calls for inclusive education, promotion of sign language learning 
Education News
Judges Decisions on Aviation Cases Shapes Nigeria’s Reputation in the Global Civil Aviation – Keyamo
Aviation Business Judiciary Legal/Courts News
Army Promises Justice to Family of Deceased Commercial Driver Killed by Soldier in Ondo
Defence Metro News
Aa
Times ReportersTimes Reporters
Aa
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Search
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Have an existing account? Sign In
Follow US
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Times Reporters > Business > Dangote Sugar Declares N82.3b Profit For 2022
Business

Dangote Sugar Declares N82.3b Profit For 2022

Publisher
By Publisher Published March 4, 2023
Share
2 Min Read
SHARE

For the year 2022 ended December 31, 2022, Dangote Sugar Refinery Plc has reported a Profit Before Tax (PBT) of N82.3 billion, indicating an increase of 142 per cent to N48.28 billion over N34 billion recorded in the corresponding period in 2021.

According to the annual report of the sugar company, profit after tax rose to N54.74 billion, representing an increase of 148 per cent to N32.69 billion compared to N22.05 billion posted in the same period in 2021.

The report stated that all the performance indicators were on the upswing as its revenue rose by 45 per cent, from N278.05 billion to N403.25 billion.

Also, the company’s earnings per share rose from 182K per share to 451k per share, an increase of 269k or 148 per cent.

The report quoted the Chairman of the company, Mr Aliko Dangote, who said that increasing the sugar refining capacity would require a corresponding increase in sugarcane production capacity.

Dangote revealed that the company had concluded plans to increase its sugar plantation from the current land area under cane production of about 8,700 hectares in 2022 to about 24,200 hectares within the next seven years.

He added that the company had doubled its scholarship and empowerment schemes in its host communities and would continue to introduce more initiatives to support the communities.

“Through these initiatives and our numerous Corporate Social Responsibility (CSR) activities, the company will be able to touch the lives of the people, bringing social, economic, and infrastructural development to our host communities.

“We are thus committing over $700 million to our investment in the Backward Integration Programme (BIP) to enable us to put in place needed infrastructure for the eventual commencement of full-scale production,” he said.

He promised that the sugar company would change the trajectory by making Nigeria self-sufficient in the sector.

Like this:

Like Loading...

Related

You Might Also Like

Judges Decisions on Aviation Cases Shapes Nigeria’s Reputation in the Global Civil Aviation – Keyamo

Suzuki By CFAO Offers End-Of-Year Price Slash on Premium Models 

IPUA Decries Decades of Federal Neglect Despite Region’s $15 Billion Annual Resource Contribution

Onitsha clergy, bizmen, academia inspire youth with ideas of leadership, business

APO Group Selected as Emirates’ Public Relations Agency for Africa

TAGGED: Dangote Sugar

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Publisher March 4, 2023
Share this Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Telegram Email Copy Link Print
Share
Previous Article Abacha’s son Abdullahi dies in his sleep
Next Article Fuel Scarcity: NNPC Boasts Of 47 Days Sufficiency Amidst Fresh Queues
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe
Telegram Follow

– Member of –

- Advertisement -
Ad imageAd image

Latest News

Military Vows Clampdown on Wulowulo Terrorist Sect in North-Central
Defence Metro News October 17, 2025
Businessman Ejiofor Decries Demolition of His N500 Million Mansion in Lagos
Uncategorized October 17, 2025
UBEC calls for inclusive education, promotion of sign language learning 
Education News October 16, 2025
Judges Decisions on Aviation Cases Shapes Nigeria’s Reputation in the Global Civil Aviation – Keyamo
Aviation Business Judiciary Legal/Courts News October 16, 2025

You Might also Like

AviationBusinessJudiciaryLegal/CourtsNews

Judges Decisions on Aviation Cases Shapes Nigeria’s Reputation in the Global Civil Aviation – Keyamo

October 16, 2025
BusinessMetroMotoringNews

Suzuki By CFAO Offers End-Of-Year Price Slash on Premium Models 

October 15, 2025
MetroNewsOil & Gas

IPUA Decries Decades of Federal Neglect Despite Region’s $15 Billion Annual Resource Contribution

October 14, 2025
BusinessEducationMetroNewsReligionYouths

Onitsha clergy, bizmen, academia inspire youth with ideas of leadership, business

October 11, 2025
Times ReportersTimes Reporters
Follow US

© 2024 Times Reporters | Deigned by AuspiceWeb Graphics. All Rights Reserved.

  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
Join Us!

Subscribe to our newsletter and never miss our latest news!

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?
%d