Illovo delivers ‘acceptable’ results – MD

Sugar producer Illovo Sugar increased its headline earnings a share by 4.3% to 194c during the year ended March 31, while operating profit remained flat at R1.89-billion, impacted by low-priced imported sugar and an unfavourable fair value adjustment, the company said on Monday. Group revenue increased by 20% to R13.2-billion and sugar production was up 4.8% to 1.83-million tons for the year under review.