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Tongaat share price jumps 10% on solid performance

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Operating profit increases 491% to R3.3bn, which includes Zimbabwe hyperinflation

Darnall Mill, one of Tongaat Hulett’s four mills in KwaZulu-Natal. Picture: TONGAAT

“Tongaat Hulett continues to implement decisive steps to stabilise and restructure its businesses to become more profitable and sustainable,” the group said. Operating profit jumped 491% to R3.3bn, which includes Zimbabwe hyperinflation, while gross revenue from continuing operations climbed 18% to R15.4bn in the year to end-March.

Operating profit, excluding the operations in Zimbabwe, rose 158% to R375m from a loss of R650m in the comparable period.

 

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