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Johannesburg - Sugar group Tongaat Hulett Group Ltd said on Tuesday it expecs full-year headling earnings per share to rise 40%-45% year-on-year.
Headline earnings are the main profit gauge in South Africa and strip out certain one-off, non-trading and financial items.
The diversified agri-processing group, with interests in land management, property development and agriculture, said the consolidation of its Zimbabwe business led to a gain of R1.969bn, which would be excluded from its headline earnings, but recognised in its net profit for the 12 months to end-December.
Net profit is expected to be approximately R2.850bn, Tongaat-Hulett said.
The company is due to publish its results on March 1.
- Reuters