TON - Tongaat Hulett Limited - Trading statement for the year to 31 December
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TON - Tongaat Hulett Limited - Trading statement for the year to 31 December
2008
Tongaat Hulett Limited
(Registration number 1892/000610/06)
Share code: TON
ISIN ZAE000096541
TONGAAT HULETT: TRADING STATEMENT FOR THE YEAR TO 31 December 2008
Tongaat Hulett`s profit from operations for the year to 31 December 2008 is
expected to increase by 35% to R1,132 billion (2007: R838 million). It comprises
profit from the various sugar operations of R606 million (2007: R360 million),
land and property development of R263 million (2007: R428 million), starch
operations of R240 million (2007: R105 million) and a gain of R23 million (2007:
R55 million cost) in centrally accounted and consolidation items including a R86
million gain on the recognition of Tongaat Hulett`s unconditional entitlement,
in 2008, to a pension fund employer surplus account in respect of a 2001 surplus
apportionment.
Headline earnings for 2008 are expected to be R583 million (2007: R61 million
which included the once-off corporate structuring and BEE equity transaction
costs). Headline earnings per share are expected to be 566 cents per share
(2007: 58 cents per share). Earnings per share are expected to be 630 cents per
share (2007: 3293 cents per share including the Hulamin fair valuation prior to
unbundling).
The results for the year ended 31 December 2008 are scheduled for release on
Monday, 23 February 2009.
This trading statement is issued in compliance with the JSE Listings
Requirements. The above information has not been reviewed and reported on by the
auditors.
Tongaat
6 February 2009
Sponsor
INVESTEC BANK LIMITED
Date: 06/02/2009 09:00:03 Produced by the JSE SENS Department.
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