He stated that the firm posted a Group turnover of N214.3 billion a 33 per cent increase over the N161.1 billion in 2019, while in the same period the Sugar Group also posted a 6.9 per cent increase in sales volume from 684,487 tonnes in 2019 to 731,701 tonnes in 2020. Therefore, the board of the company declared a dividend payment of N18.22 billion to the shareholders, amounting to N1.50 per share.
He explained that this was reflected in the sales volume delivery of 731,701 tonnes, and production of 743,858 tonnes, an increase of 6.9 per cent and 13.7 per cent increase in volumes over the comparative year 2019. “2020 was indeed very eventful for our company ranging from the weak macroeconomic fundamentals caused by the underlying impact of COVID-19 pandemic which saw to the steady rise in forex rate, high inflation and the significant rise in our cost of production, to the worsening traffic gridlock on the Apapa Wharf Road which led to delays and at times disruption of the distribution and deliveries to customers.
Dangote Sugar Refinery is Nigeria’s largest producer of household and commercial sugar with 1.44M MT refining capacity at the same location. Its refinery located at Apapa Wharf Ports Complex, refines raw sugar imported from Brazil to white, Vitamin A fortified refined granulated white sugar suitable for household and industrial uses.
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