Harare - JSE-listed Tongaat Hulett [JSE:TON] recorded improved operating profits from its Zimbabwe-based operations, the company said in a statement.
“The two Zimbabwe operations generated operating profit of R630m up from R621m recorded last year,” said the company.
In a statement accompanying the group’s results for the year ended March 31 2013, management said sugar production in Zimbabwe had also increased by 28% to 475 000 tonnes against 372 000 last year.
This increase was attributed to growth in cane deliveries from private and third-party farmers.
Management said indigenous private cane farmers have the potential to earn as much as US$140m in gross revenue per annum and employ more than 12 000 people.
As at the end of the 2012/13 season, indigenous private farmers supplied 850 000 tonnes of cane which generated $56m in revenue.
- Fin24
“The two Zimbabwe operations generated operating profit of R630m up from R621m recorded last year,” said the company.
In a statement accompanying the group’s results for the year ended March 31 2013, management said sugar production in Zimbabwe had also increased by 28% to 475 000 tonnes against 372 000 last year.
This increase was attributed to growth in cane deliveries from private and third-party farmers.
Management said indigenous private cane farmers have the potential to earn as much as US$140m in gross revenue per annum and employ more than 12 000 people.
As at the end of the 2012/13 season, indigenous private farmers supplied 850 000 tonnes of cane which generated $56m in revenue.
- Fin24