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Trading statement
Tongaat Hulett Limited
(Registration number 1892/000610/06)
Share code: TON
ISIN ZAE000096541
TONGAAT HULETT: TRADING STATEMENT FOR THE HALF-YEAR TO
30 SEPTEMBER 2012
The following trading statement is issued for the half-
year to 30 September 2012.
Headline earnings are expected to increase by 30,5% to
R654 million for the six months, compared to the R501
million earned in the same period last year. Headline
earnings per share for the half-year are expected to be
604 cents per share (six months to September 2011: 474
cents per share), a 27,4% increase.
Tongaat Hulett’s revenue is expected to grow by 23% to
R7,398 billion for the half-year (2011: R6,027 billion).
Profit from operations is expected to increase by 25% to
R1,313 billion (2011: R1,047 billion), with the following
major elements: Profit from the starch operations
amounting to R147 million (2011: R167 million). Profit
from the land conversion and development operations
increasing to R244 million (2011: R62 million), with
sales mainly in the Cornubia industrial and Umhlanga
Ridge areas. The various sugar operations are expected to
generate operating profit of R969 million (2011: R857
million). Tongaat Hulett is benefitting from higher sugar
production volumes with the related reduction in the unit
cost of production, against the background of general
margin pressure in the relationship of selling price
movements versus higher input costs. The major production
increase this year is in Zimbabwe, following the 42%
increase in sugar production in Mozambique in the
previous season and in South Africa, a further widening
of the gap between the hectares under cane and the
hectares milled. A net charge of R47 million is expected
to be reflected on the centrally accounted and
consolidation items (2011: R39 million charge).
This trading statement is issued in accordance with the
JSE Listings Requirements. The above information has not
been reported on by the auditors.
The interim results for the half-year ended 30 September
2012 are scheduled for release on Monday, 12 November
2012.
Tongaat
31 October 2012
Sponsor
INVESTEC BANK LIMITED
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