Tongaat Hulett reports R1.9bn FY18 operating profit

Agriculture and agroprocessing business Tongaat Hulett’s operating profit for the year ended March 31 reached just over R1.9-billion, with the company’s sugar operations recording an operating profit of R837-million, despite being adversely affected by several factors. Among these, were imports into the South African market, low international sugar prices and the impact of a stronger local currency on export realisations, while a partial recovery from the drought conditions of the previous two seasons had a positive impact on the company’s operations for the period.