The November resumption of talks between Tanzania’s government and multinational corporates, on plans to develop the country’s $30bn liquefied ... natural gas (LNG) reserves, has triggered optimism that progress may finally be in sight.
Rising input costs have “completely undone what would have been a stellar year” for DSR this year, according to research from Chapel Hill Denham in Lagos. Annualised earnings for the first nine months of 1.70 naira per share lagged behind the Chapel Hill Denham estimate of 1.95 and the market expectation of 1.81.
That was mostly due to costs, with the cost of goods sold rising by 26% in the third quarter versus a year earlier.
Dangote Sugar Refinery CEO Ravindra Singhvi said at the end of October that he was “hopeful” that “despite the prevalent challenges in the environment our current performance will be sustained” to the end of the year.