DANGSUGAR’s revenue hit record high in 2021FY. The firm’s topline climbed to NGN276.05bn (vs NGN214.30bn in 2020FY), driven by a combination of modest improvement in sales volumes (+5.70% to 15.5million bags) and a significant upward review of prices (+21.88% to NGN17,848 per 50kg bag). With increases in sale of 50kg sugar (+30.33%) and molasses (+43.99%) which jointly account for 97.90% of the total revenue, the Group’s total revenue grew by 28.82% YoY.
