Dangote Sugar returns to quarterly profit with N523.8 million in Q2 — recovery in Motion

Subject: Investment Thesis – Dangote Sugar Refinery Plc: Cautious Optimism Amid a Fragile Recovery Dangote Sugar Refinery Plc (DSR) has demonstrated a resilient recovery in Q2 2025, returning to pre-tax profitability with ₦523.8 million in earnings compared to a ₦104.5 billion loss in the same period last year. While the turnaround marks a critical inflection point for the company, a closer examination of its fundamentals reveals both opportunities and structural challenges that temper bullish sentiment.

WaneInvestmentHouse has decreased revenue growth from 23.1% to 0.0% and decreased shares outstanding growth rate from 0.1% to 0.0%.

WaneInvestmentHouse made no meaningful changes to valuation assumptions.

WaneInvestmentHouse has increased revenue growth from 15.1% to 23.1%.