February 2010 Vol 5, Business , Financial and Property Indaba
Tongaat Hulett sees annual headline profit up 40-45 percent
South African sugar group Tongaat-Hulett Group said on Tuesday it expects full-year headling earnings per share to rise 40-45 percent year-on-year.
South African sugar group Tongaat-Hulett Group said on Tuesday it expects full-year headling earnings per share to rise 40-45 percent 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 R1.969 billion, 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 R2.850 billion, Tongaat-Hulett said.
The company is due to publish its results March 1.
The company is due to publish its results March 1.
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