Dangote Sugar Refinery: Revenue Soars
August 26 2020
Dangote Sugar Refinery (DSR) Plc, a major subsidiary of the Dangote Group posted a half-year profit of N11.6 billion in 2020. This is marginally above the N10.9 billion profit it generated y/y 2019. The company has notably posted profit consistently and this time improved its revenue by 28.8% to N103 billion for H1 2020 from N80 billion in the corresponding period of 2019. DSR shows little sign of weariness as it very recently, on July 11, 2020, finalised plans to merge with Savannah Sugar Company Limited. Revenue ascends steadily as well in Q2, as it generated N8 billion higher than the N47.6 billion generated in Q1.
MAN Calls For Review Of Border Closure
August 26 2020
Manufacturers Association of Nigeria (MAN) has called on the Federal Government to review the border closure and put measures in place to guard against ill practices at the country’s land borders. The call is coming one year after the country’s land borders were shut by the Federal Government. The closure was aimed at curbing smuggling. MAN noted that the policy was not sustainable, and urged the government to call stakeholders to a round table meeting and review the achievements so far, while putting in place right structures.
DAILY SUN NEWSPAPERS PAGE 25
Buying Interest In Dangote Sugar, MTN, GTBank Buoy Stock Market
August 24, 2020
Despite the significantly lower trading activity in the stock market, the Nigerian Stock Exchange, NSE, inched higher for the fourth successive week, following a series of marginal gains last week. Specifically, buying interests in MTN Nigeria, Dangote Sugar and Guaranty Trust Bank, GTBank pushed the NSE All Share Index, ASI, 0.1 percent higher Week-on-Week, WoW, to 25,221.87 points. Consequently, market capitalisation rose to N13.2trillion as investors gained N12.2billion while the Year-to-Date, YtD, loss moderated to -6.0 per cent, and the Month-to-Date, MtD, gain increased to 2.1 per cent.
VANGUARD NEWSPAPERS PAGE 19
Dangote Sugar Refinery Acquires Savannah Sugar Company
Friday, August 7, 2020
Dangote Sugar Refinery has been authorised to receive all the assets, liabilities and business undertakings, and property rights of Savannah Sugar Company Limited (SSCL). This was one of the resolutions passed at the court-ordered meeting of the members of Dangote Sugar Refinery Plc held recently at the Eko Hotel & Suites, Victoria Island, Lagos. According to the notice of the proceedings sent to the Nigeria. Dangote Sugar Refinery has been authorised to receive all the assets, liabilities and business undertakings, and property rights of Savannah Sugar Company Limited (SSCL).
Wednesday, August 5, 2020
Dangote Sugar, Nestle, GTBank Deliver Superior ROE In 10 Years – Coronation Asset
July 27, 2020
Over the past 10 years, Dangote Sugar Nigeria plc, Nestle Nigeria plc, and Guaranty Trust Bank have generated more profit from their shareholders investments than peers as evidenced in the consistent and superior return on equity, according to a recent report by Coronation Asset Management, titled ‘Navigating the Capital Market: the Investor’s Dilemma’. The report studies the impact of the macroeconomic environment on earnings and valuations of Nigerian Stock Exchange (NSE) listed companies.
BUSINESSDAY NEWSPAPERS PAGE 30
LATEST NIGERIAN NEWS
Market Records Mild Gain As Investors Buy Airtel, Dangote Sugar, Others
July 16, 2020
Nigeria’s equities market on Wednesday July 15 stopped record loss trend as investors raised bets in shares of Airtel Africa Plc, Dangote Sugar Refinery Plc and GTBank Plc. The choppy gains of N8 billion on Wednesday happened as investors in 3,648 deals exchanged 208,209,536 units valued at N1.761 billion. The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased slightly by 0.07 percent to 24,132.30 points. The value of listed stocks increased to N12.587 trillion from preceding day low of N12.579 trillion, up by N8 billion.
BUSINESSDAY NEWSPAPERS PAGE 25
LATEST NIGERIAN NEWS
MY NAIJA BLOG
Dangote Sugar Refinery’s Acquisition Of Savannah Sugar Refinery Gets Analysts’ Nod
July 16, 2020
Analysts have lauded the acquisition of Savannah Sugar Refinery as a welcome development in the sugar production industry, stating that the industry’s outlook remain strong despite the harsh operating environment. They have, however, expressed optimism of increased production output in line with the federal government’s sugar master plan of 2012. Dangote Sugar Refinery had acquired Savannah Sugar Company Limited, after the later got the nod from its shareholders during the company’s Extraordinary General Meeting (EGM) which was preceded by the 2019 Annual General Meeting.
Dangote Sugar Creates Three Billion New Shares
- Seals Savannah Sugar acquisition
July 15, 2020
Shareholders of Dangote Sugar Refinery (DSR) Plc have approved the creation of three billion new ordinary shares of 50 kobo each to increase the authorised share capital of the sugar company from N6 billion to N7.5 billion. At their extra-ordinary general meeting in Lagos, shareholders approved resolutions increasing the authorised share capital of DSR N6 billion of 12 billion ordinary shares of 50 kobo each to N7.5 billion ordinary shares of 50 kobo each through creation of three billion new ordinary shares of 50 kobo each.
THE NATION NEWSPAPERS PAGE 15
Dangote Sugar Completes Acquisition With Savannah Sugar Company Limited
July 13, 2020
Dangote Sugar Refinery has been authorised to receive all the assets, liabilities and business undertakings, and property rights of Savannah Sugar Company Limited (SSCL). This was one of the resolutions passed at the court-ordered meeting of the members of Dangote Sugar Refinery Plc held recently at the Eko Hotel & Suites, Victoria Island, Lagos. According to the notice of the proceedings sent to the Nigeria Stock Exchange, and seen by Nairametrics, Dangote Sugar Refinery “is hereby authorised to receive all the assets ((including all tax attributes, unutilized capital allowances, tax losses, withholding tax credits and any other tax refunds available subject to the approval of the FIRS), liabilities and business undertakings, including real property and intellectual property rights of Savannah Sugar Company Limited (“SSCL”) transferred by SSCL to the Company (pursuant to the Scheme of Arrangement between SSCL and its shareholders) upon the terms and subject to the conditions set out in the Scheme of Arrangement without any further act or deed”.
Dangote Sugar Shareholders Approve N13.2bn Dividend For 2019
July 13, 2020
Shareholders of Dangote Sugar Refinery Plc (DSR) have approved a total cash dividend of N13.2 billion for the year ended December 31, 2019. The shareholders gave their approval at the company’s 14th Annual General Meeting held by virtual meeting in Lagos. The dividend represents N1.10 for every ordinary share of 50 kobo each held in the company for the year ended December 31, 2019. Speaking at the AGM, the Chairman of Dangote Sugar, Aliko Dangote said that, “Despite the challenging business environment and the intense competition witnessed by the industry in the year 2019, the company posted a Group turnover of N161.1 billion, a 7.1 per cent increase over N150.4 billion in 2018.”
LEADERSHIP NEWSPAPERS PAGE 18