SALIENT FINANCIAL FEATURES
OF 2015/16

THE RESULTS FOR THE YEAR ENDED MARCH 2016 WERE ATTAINED WITH

  • the starch operations delivering a record performance;
  • land conversion and development activities continuing to unlock substantial value and delivering a record operating profit;
  • a substantial reduction in sugar production as a result of poor growing conditions (the operations are volume sensitive, with sugar milling and cane growing having a high proportion of fixed costs); and
  • positive achievements in the sugar operations in terms of substantial cost reductions in real terms over the past three years and securing and improving local market positions.
 
 

STARCH OPERATIONS

  • Operating profit grew to R658 million (2015: R561 million)
  • Improvements in sales mix, co-product recoveries, plant efficiencies and competitive maize costs
 

SUGAR OPERATIONS

  • Sugar production of 1,023 million tons (2015: 1,314 million tons) and operating profit of R124 million (2015: R806 million)
  • Impacted by weather conditions and low sugar prices
 

LAND CONVERSION AND DEVELOPMENT ACTIVITIES

  • Profit of R1,115 billion from the sale of 121 developable hectares
    (2015: profit of R829 million from sales of 108 developable hectares)

                         
REVENUE     OPERATING
PROFIT		     HEADLINE
EARNINGS		     CASH FLOW
FROM OPERATIONS		     ANNUAL
DIVIDEND
R16,676   R1,808   R783   R1,262   230 Cents
billion   billion   Million   billion   PER SHARE
+3,2%   -13,5%   -17,1%   -50,2%   -39,5%
(2015: R16,155 billion)   (2015: R2,089 billion)   (2015: R945 Million)   (2015: R2,533 billion)   (2015: 380 cENTS per share)

Cash flow from operations was lower than operating profit, largely as a result of debtors increasing by some R1,3 billion due to the timing of inflows in respect of land conversion activities

 

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