'Perfect storm': Tongaat fallout deals blow to Remgro-controlled RCL, adding to agricultural woes | Business

Selati owner RCL Foods, which is majority-owned by Johann Rupert's Remgro, says the fallout from Tongaat Hulett's collapse helped prompt a nearly quarter of a billion rand hit to its sugar business.

It warned on Tuesday that full-year earnings could fall by nearly a third in its year to end-June as it dealt with the spillover effect of Tongaat and another smaller sugar producer, Gledhow Sugar Company, entering business rescue.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

Source: News Formal (newsformal.com)

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