Dangote Sugar Refinery Plc recorded a net loss of N626m in the second quarter of 2025 despite a growth in revenue, according to the company’s unaudited consolidated financial statements for the period ended June 30, 2025.
The group posted revenue of N216.28bn in Q2 2025, representing a 25 per cent increase compared to N172.90bn in the same quarter of 2024. However, the cost of sales also rose sharply to N173.86bn from N163.51bn in Q2 2024, leaving a gross profit of N42.42bn, up from N9.39bn in the corresponding quarter of the previous year.
Despite the improvement in top-line performance, the company’s bottom line was weighed down by significant finance costs, which stood at N35.10bn during the quarter, compared to N111.66bn in the same period last year. The cost pressures, coupled with administrative expenses of N6.49bn and impairment losses of N511.39m, culminated in a net loss of N626.11m for the period under review.
This compares to a loss of N75.01bn recorded in Q2 2024.
The loss before tax stood at N524m, a substantial improvement from a loss before tax of N104.56bn recorded in the same quarter of 2024. However, the taxation expense of N1.15bn reversed the pre-tax gain, resulting in a net loss.
Earnings per share for the quarter came in at negative five kobo, compared to negative 618 kobo per share in Q2 2024, highlighting the narrowed loss in the current period.
In terms of its financial position, total assets rose to N1.03tn as of June 30, 2025, compared to N714.65bn as of June 2024. The company also recorded a revaluation surplus of N325.60bn in full-year 2024, boosting its equity position despite accumulated losses.
Total liabilities stood at N848.28bn, while total equity attributable to shareholders was N184.79bn at the end of the reporting period, down from N212.28bn as of December 2024.
Despite the loss, the result reflects signs of stabilisation in the group’s financial performance after a challenging 2024 marked by macroeconomic pressures and cost volatility.
The PUNCH reported that Dangote Sugar Refinery Plc has unveiled plans to create over 75,000 jobs in its value chain as part of its strategy to drive growth.
