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Tongaat reports flat earnings

Nov 14 2011 08:14 Reuters

Company Data

TONGAAT HULETT LIMITED [JSE:TON]

Last traded 159.00
Change -1.83
% Change -0.01
Cumulative volume 146021
Market cap 21.48bn

Last Updated: 19/09/2014 at 04:26. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Agri-processing business Tongaat Hulett [JSE:TON] posted flat first-half earnings on Monday and said it expects a 14% increase in sugar output for the year.

Tongaat said diluted headline earnings per share for the six-month period to end-September totalled 462.6 cents, compared with 468.9c last year.

Tongaat has interests in land management and property development, but its main business is sugar production and milling.

The company, which has operations in South Africa, Mozambique, Zimbabwe and Swaziland, said revenue rose to R6.027bn from R4.72bn last year.

Tongaat said it expects sugar production for the 2011/12 year to total 1.150 million tonnes from about 1 million tonnes in the previous year.

The company declared an interim dividend of 120c per share, compared with 110c last year.

Tongaat shares have fallen nearly 16% so far this year, compared with a flat Johannesburg's All Share [JSE:J203] Index.

Shares of Tongaat Hulett rose 2.15% to R93.25 on Monday morning.

 
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