Attached is FSDH Securities’ analysis of Dangote Sugar for the first quarter.
Here are the highlights:

• 4% growth in turnover from N20.063billion to N20.9billion
• 24.7% growth in profit before tax to N8.93billion from N7.15billion
• 24.63% growth in profit after tax to N6.69billion from N5.36billion
• Reduction in cost as percentage of business
• Decrease in cost of goods sold
• Dividend of N1.7k and bonus of 1 for 5