Publications
Partners
Johannesburg - Sugar producer Tongaat Hulett [JSE:TON] said Friday that its headline earnings for the 15 months to end March 2010 are expected to be between R840m and R860m, which is 34% to 38% above the corresponding previous 15 month period. Headline earnings per share are expected to reflect an increase by a similar percentage.
Tongaat Hulett's financial year-end changed to March 31 in the current reporting period
Tongaat Hulett's profit from operations for the 15 months to end March 2010 is expected to be between R1.65bn and R1.7bn, which is 25% to 29% above the corresponding previous 15 month period.
As reported in the results for the 6 months to end June 2009 and the 12 months to December 2009, the Zimbabwe operations are now consolidated in Tongaat Hulett's financial results. The accounting treatment in terms of IFRS on the commencement of consolidation of the Zimbabwe operations gave rise to a balance sheet take-on gain of R1.969bn, which is recognised in the income statement.
This gain is excluded from profit from operations and headline earnings. It is included in total net profit. Total net profit for the 15 months is expected to be approximately R3bn, with net profit per share being approximately 2 800c per share.
The company expects to release its results on Friday May 28.
- I-Net Bridge
Tongaat Hulett's financial year-end changed to March 31 in the current reporting period
Tongaat Hulett's profit from operations for the 15 months to end March 2010 is expected to be between R1.65bn and R1.7bn, which is 25% to 29% above the corresponding previous 15 month period.
As reported in the results for the 6 months to end June 2009 and the 12 months to December 2009, the Zimbabwe operations are now consolidated in Tongaat Hulett's financial results. The accounting treatment in terms of IFRS on the commencement of consolidation of the Zimbabwe operations gave rise to a balance sheet take-on gain of R1.969bn, which is recognised in the income statement.
This gain is excluded from profit from operations and headline earnings. It is included in total net profit. Total net profit for the 15 months is expected to be approximately R3bn, with net profit per share being approximately 2 800c per share.
The company expects to release its results on Friday May 28.
- I-Net Bridge
