TONGAAT HULETT LIMITED - Further trading statement for the six months ended 30 September 2018
TON 201811090024A
Further trading statement for the six months ended 30 September 2018
Tongaat Hulett Limited
Registration number 1892/000610/06
Share code: TON
ISIN: ZAE000096541
("Tongaat Hulett")
FURTHER TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
The trading statement published on 5 October 2018 refers. The Tongaat Hulett Board is now
in a position to provide further guidance regarding the financial results for the six months
ended 30 September 2018 with reasonable certainty.
Shareholders are advised that Tongaat Hulett’s operating profit is expected to be
R530 million, which is 64% below the R1,471 billion recorded in the six months ended
30 September 2017 ("the comparative period"). The decline in operating profit is largely
attributable to land transactions that were not concluded by 30 September 2018.
Furthermore, local market conditions in the South African and Mozambique sugar
operations negatively impacted on both revenue and cane valuations which reduced
operating profit.
A headline loss of R87 million is expected for the six months ended 30 September 2018, a
decrease of 113% compared to headline earnings of R661 million reported for the
comparative period. Consequently, a headline loss per share of 74 cents is expected for the
six months ended 30 September 2018, a reduction of 113% compared to headline earnings
per share of 574 cents reported for the comparative period. A loss per share of 94 cents is
expected for the six months ended 30 September 2018, a reduction of 115% compared to
earnings per share of 629 cents reported for the comparative period.
This trading statement is issued in accordance with paragraph 3.4(b) of the JSE Listings
Requirements. The financial information contained in this trading statement has not been
reviewed or reported on by Tongaat Hulett’s auditors.
The interim results for the six months ended 30 September 2018 containing the financial
statements and results commentary, are scheduled for release this afternoon, Friday
9 November 2018, by 16h00.
Tongaat
9 November 2018
Sponsor
Investec Bank Limited
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