South Africa’s Tongaat posts lower full-year earnings

Johannesburg (Capital Markets in Africa): – South African sugar maker Tongaat Hulett posted a 16 percent drop in full-year earnings on Monday, weighed down by lower sugar output and prices.

Tongaat said diluted headline earnings per share for the year to the end of March totalled 826.1 cents compared with 979 cents a year earlier.

Headline earnings are the main profit gauge in South Africa and exclude certain one-off and non-trading items.

Source: Reuters Africa Business Online News