Dangote Sugar Plc has proposed dividend of 50k per share for its 2012 operating year. The company recorded N10.8 billion in its profit after tax, representing 45.83 per cent appreciation when compared to N7.40 billion recorded in same period of 2011.

Analysis of its financial report filed at the Nigerian Stock Exchange, NSE, the company’s profit before tax rose N16.33 billion from N10.92 billion recorded in 2011. Its revenue fell marginally by 0.33 per cent to N106.86 billion from N107.22 billion in corresponding period of 2011. A total of N10.74 billion was attributed to the owners of the company as against N7.56 billion in 2011.

The company reduced its cost of sale by 8.4 per cent, recording N85.76 billion in 2012 from N93.62 billion in 2011. But its distribution/administrative expenses impacted negatively on its bottom line by 118.67 per cent, as cost rose to N6.88 billion in 2012 from N3.15 billion in 2011.

The company’s financial statement showed that its property, plant and equipment rose by 9.92 per cent to N17.9 billion in 2012 as against N16.28 billion in 2011. Its total current assets stood at N64.28 billion in 2012 from N55.63 in 2011, while its total current liabilities stood at N32.52 billion in 2012 from N29.93 billion in 2011.

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