Nigeria, July 24 -- Dangote Sugar Refinery reported an 83.1 per cent drop in net loss for the first half of the year, compared to the same period of 2024, helped by a considerable reduction in finance costs.

Loss after tax for the refined sugar maker stood at N24.3 billion, down from N144 billion as the company shook off a significant foreign exchange loss that hammered its operations in the first half of last year.

Exchange loss for the period under review fell to N160.2 million from N193.7 billion a year ago, according to Dangote Sugar's newly released earnings report.

Finance costs totalled N65 billion, compared to N234.2 billion a year earlier, with finance cost on letter of credit and interest on borrowings as the major pressure p...