’Femi AsuDangote Sugar Refining Plc has expressed its resolve to soar higher and create more value for stakeholders despite economic challenges. The Chairman, Dangote Sugar Refinery, Aliko Dangote, said the company posted a profit before tax of N34.6bn with a turnover of N150.4bn for the 2018 financial year. According to him, Savanna Sugar remains the only company producing sugar from sugarcane grown in the country and has just ended its 2018/2019 crop season. Dangote disclosed that the first-phase expansion of the Savanna Sugar capacity from the current 3,000 tons of cane per day to 3,500TCD had been completed. The National Coordinator, Pragmatic Shareholders Association of Nigeria, Mrs Bisi Bukar, said while many quoted companies continued to struggle with the payment of dividends, Dangote Sugar Refinery had been consistent in taking care of shareholders.

Source: Punch June 19, 2019 03:04 UTC