JB Magwaza
Chairman		  
Peter Staude
Chief Executive Officer

CHAIRMAN'S STATEMENT

  

CHIEF EXECUTIVE'S REVIEW

A Year of Contrasts

bullet Record profit from starch operations of R303 million
bullet Improved starch manufacturing efficiencies resulted in an estimated benefit of R26 million
bullet Sugar production in Zimbabwe grew by 29%
bullet Land under sugar cane in South Africa increased by 5 606 hectares
bullet Lowest rainfall in KwaZulu-Natal, for the past 15 years
bullet Lowest sugar crop in South Africa since the 1953/54 season
bullet Record production of 628 000 tons at the South African sugar refinery (over 100 years of history)
bullet Sugar production increased by 24% in Mozambique operations
bullet Rapid depreciation of the Metical resulted in a negative profit impact of some R120 million
bullet 100 developable hectares of land sold for affordable housing in Cornubia
bullet Record price of R3 610 per bulk m2 obtained for land sales in Umhlanga Town Centre
bullet Hippo Valley Estate - Gold Award for Safety
bullet Inclusion in the JSE SRI index
bullet Level 2 Broad-Based Black Economic Empowerment Rating for South African operations