• Operating profit, headline earnings, ROCE and dividends more than doubled in 2005
  • Tongaat-Hulett Sugar - Well positioned to benefit from a new world sugar regime and to take advantage of changing global sugar fundamentals
  • African Products - An organisational restructuring was undertaken during the year, as part of the ongoing process to ensure operations are able to respond to the competitive environment, the benefits of which will be realised from 2006
  • Moreland - Third successive year of record operating profit of R231 million in 2001 with strong contributions from all portfolios
  • Hulett Aluminium - Operating profit more than doubled from R150 million to R319 million
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Cedric Savage The collective actions taken by management to enhance performance are resulting in accelerated earnings. Headline earnings have more than doubled from R206 million to R466 million and this momentum is expected to continue, demonstrating the strategy of value creation driven by earnings growth. 
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Peter Staude The past three years have seen the businesses adapting to a stronger Rand. The benefits of the multiple management actions underway are increasingly reflected in the financial results. Operating profit, headline earnings, return on capital employed and dividends more than doubled in 2005. 
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Annual Report 2005 [cover]

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Tongaat-Hulett has a proud history built on the ability to transform itself and capitalise on opportunities in changing business environments. It is doing so again by introducing black economic empowerment equity participation in both Tongaat-Hulett and Hulett Aluminium and simultaneously unbundling and listing Hulett Aluminium.
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Tongaat-Hulett’s aim is to create value for all stakeholders in a manner that is responsible and contributes meaningfully to the social and physical environment in which it operates.
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The Tongaat-Hulett Group is committed to conformance with good corporate governance, upholding the principles of openness, integrity, accountability, transparency and social responsibility. The Group continues to support the Code of Corporate Practices and Conduct embodied in the 2002 King Report and believes that it complies, in all material respects, with its provisions.
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Segmental Analysis
Five Year Review
Report of the Independent Auditors
Certificate by Company Secretary
Directors' Approval of AFS
Statutory Report
Balance Sheets
Income Statements
Statement of Changes in Equity
Cash Flow Statements
Accounting Policies
Notes 1 - 10 to the AFS
Notes 11 - 20 to the AFS
Notes 21 - 35 to the AFS


  2005   2004 *
Revenue (Rmillion) 6 926 6 298
Operating profit (Rmillion) 730 358
Headline earnings (Rmillion) 466 206
Headline earnings per share – basic (cents)    452,4    202,5
Annual dividend per share (cents) 400,0 170,0
   Interim paid 120,0 50,0
   Final proposed 280,0 120,0
* Restated for IFRS