Tongaat Hulett expects 40% increase in FY profit as prices climb

Local sugar producer Tongaat Hulett expects its operating profit for the year ended March 31 to rise by 40% to R2.3-billion, owing to improved market prices, more effective import protection dynamics in the countries where it operates and higher prices realised for exports. The various sugar operations generated operating profit of R1.27-billion, compared with a loss of R15-million in 2016 – reflective of improved local market prices.