Published By: BFN News
Tuesday 22 May, 2012 at 11:53 AM
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Tongaat Hulett's revenue increased by 24.8% in the year ended March 31 2012 mainly as a result of increased sugar production together with improved regional and European Union sugar prices.
Its total sugar production for the year increased by 14% to 1,150 million tons. The cane supplied to its sugar mills grew to some 9.6m million tons, as the business progresses towards its objective of facilitating increased cane supply (including hectares under cane, cane yields and cane quality) so as to fully utilise its existing milling capacity of some 2 million tons of sugar production per annum.
Sugar production grew by 42% in Mozambique, by 12% in Zimbabwe, by 7% in South Africa and the increase in raw sugar equivalent in Swaziland was 9%.
The total profits were 53% higher than the previous year.
Story provided by StockMarketWire.com