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DANGSUGAR – Dangote Sugar Refinery Plc

DANGSUGAR - Numbers that investors want to see for Dangote Sugar Refinery Plc.
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Taiwo Megbope November 14, 2020 at 11:02 am

Thanks for the comment Nnamani. Glad you found it worth your time.

Ajibola Awolowo May 24, 2021 at 5:32 am

Thanks for this highly educative set of posts…

Just out of curiosity, why do you use a total score of 7 for banks and 9 for dangote sugar on the piotroski souring system? I’ve always assumed the total score is 9 rather than 7…


Taiwo Megbope June 7, 2021 at 12:43 am

Thanks for the compliments Ajibola.

The Piotroski formula has 9 requirements that the companies must meet. Of those 9 requirements are 2 that may seem counterintuitive for banks. These two items are gearing and current ratio. While a reduced gearing and an increased current ratio will appear positive for non-bank companies (like Dangote Sugar), it would appear the opposite for banks. For this reason, we remove these two items to arrive at a revised Piotroski score of 7 for financial companies and leave the non-financial companies as the real formula describes.


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