SALIENT financial FEATURES OF 2014/15

 

The results for the year ended March 2015 were attained with

  • the starch operations delivering a record performance;
  • land conversion and development activities continuing to unlock substantial value, albeit with profit recognised being below that reported last year;
  • difficult market and weather conditions for the sugar operations; and
  • positive achievements in the sugar operations in terms of cost reductions, securing the local market in Zimbabwe and future cane supplies.

    OPERATING PROFIT

# 2007 and prior: profit from Tongaat Hulett operations within the old Tongaat-Hulett Group
* Change in financial year end from December to March

 
  • Operating profit grew to R561 million (2014: R482 million)
  • Improvements in sales mix, co-product recoveries, capacity utilisation and plant efficiencies
 
  • Sugar production of 1,314 million tons (2014: 1,424 million tons) and operating profit of R806 million (2014: R908 million)
  • Impacted by weather conditions and low sugar prices
 
  • Profit of R829 million from the sale of 108 developable hectares (2014: profit of R1 080 million from sales of 259 developable hectares)
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