WorldStage Newsonline– Dangote Sugar Refinery (DSR) has released its first quarter (Q1) 2018 results which showed that profit before tax (PBT) and profit after tax PAT grew by 19% to N8.4 billion and 11% to N5.3 billion respectively when compared with Q1 2017.
The growth were coming despite sales decline of -31% to N41.1 billion.
The sales came in weaker across all key regions, declining -46%, -28% and -27% in the North, West and Lagos respectively.
However, a gross margin expansion of +1,183bps to 25.0% completely offset the topline decline and relatively weaker other income line to lead to the PBT growth.
