Dangote Sugar PLC - Earnings improve on volume growth, price increase

​ DANGSUGAR started the year on a strong note, posting better than expected Q1 numbers with revenue up 45% y/y (Vetiva’s revenue estimate: 28% y/y). This performance was driven by a material growth in volume (14% y/y), and a 22% price increase in the period. Despite the tough operating environment, resilient demand from both trade and corporate customers (accounting for 30% and 70% of sales respectively), relatively reduced smuggling activities, and improved route-to-market buoyed the signif...