Tongaat's profit falls 37% on higher sugar imports by South Africa

Wednesday, 30 May 2018 11:00 AM

Sugar producer Tongaat Hulett said on Monday its full-year profit fell by 37%, weighed down by higher-than-expected sugar imports by South Africa and low international prices.

It is reported by Reuters.

Diluted headline earnings per share (HEPS) fell to 534,8 cents ($0,4296) in the year ended March 31, from 852,7 cents in the previous year.

HEPS is the main profit measure used in South Africa.

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