Tongaat Hulett On Sweet Path
December 28, 2020
Tongaat Hulett’s ailing fortunes in recent years appear to be on a trajectory of recovery, judging by its recently released interim financial results for the first half-year ended September 30, 2020 (H1 2020).
For the period under review, continuing operations reported a 37 percent increase in revenue to R8,2 billion (H1 2019: R6 billion), a 95 percent increase in operating profit to R1,9 billion (H1 2019: R973 million), and a 127 percent increase in earnings before interest, taxes, depreciation, and amortisation to R2,5 billion (H1 2019: R1,1 billion).
In a joint statement, Tongaat Hulett’s chairperson, Louis von Zeuner, and CEO, Gavin Hudson, said it was fortunate that the majority of the company’s businesses were classified as essential services during Covid-19-related lockdowns in the countries in which it operates.
Zimbabwe: Tongaat Hulett On Sweet Path
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Tongaat Hulett on sweet path
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Tongaat Hulettâs financials point to sugar business recovery Farmer s Weekly
Picture: iStock During H1 2020, Tongaat Hulettâs sugar operations in South Africa, Mozambique, Zimbabwe, Botswana, Namibia, and Swaziland collectively generated R2,13 billion operating profit (H1 2019: R855 million).
Tongaat Hulettâs ailing fortunes in recent years appear to be on a trajectory of recovery, judging by its recently released interim financial results for the first half-year ended 30 September 2020 (H1 2020).
For the period under review, continuing operations reported a 37% increase in revenue to R8,2 billion (H1 2019: R6 billion), a 95% increase in operating profit to R1,9 billion (H1 2019: R973 million), and a 127% increase in earnings before interest, taxes, de
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