DANGSUGAR Says 2016 Pretax Profit up 21.4%

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Sugar20170331194343 refiner, Dangote Sugary Refinery Plc (DANGSUGAR) said on Friday its pretax profit for the period ended December 31, 2016 climbed up 21.4 percent toN19.6 billion from N16.1 billion recorded a year ago.

Post-tax profit of the sugar refiner rose 29.2 percent to N14.3 billion from N11.1 billion declared the same period of 2015.

Revenue of DANGSUGAR increased from N101.05 billion in 2015end to N169.72 billion in the review period of 2016; indicating anincrease of 67.9 percent, the sugar refiner said in a filing with the Nigerian Stock Exchange (NSE).

Shares of the company at the close of the trading session on the domestic bourse grew 4.99 percent to N6.52 from N6.21 traded the previous session; gaining 0.31 kobo per share.