Tongaat Hulett says it may sell starch division | Fin24
 
Loading...

Tongaat Hulett says it may sell starch division

Feb 13 2020 11:32

Tongaat Hulett [JSE:TON] says it has entered into negotiations to potentially sell its starch division.

The JSE-listed agribusiness group uses maize to manufacture a number of products that are "key ingredients for manufacturers of foodstuffs, beverages and a variety of industrial products".

In its financial results for the six months to end September 2019, Tongaat described its starch division as a "consistent, strong cash generator". The divisions's operating profit was R306m for the half-year. 

Tongaat shares were up 2.5% on Thursday morning. 

tongaat hulett
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Voting Booth

Do you support a reduction in the public sector wage bill?

Previous results · Suggest a vote

Loading...