Tongaat Hulett Ltd. (THL.L) posted an increase in full-year profit attributable to shareholders to 889 million South African Rands from 833 Rands last year.
Headline earnings attributable to shareholders rose to 891 million Rands from the prior year.
Revenue grew 24.8% to 12.08 billion Rands from a year ago, mainly as a result of increased sugar production together with improved realisations in the regional and European Union sugar markets.
Sugar production reached 1,150 million tons, up 14.3% from last year. This included increases of 42% in Mozambique, 12% in Zimbabwe and 7% in South Africa.
Looking ahead, overall, as one of the main drivers of revenue and earnings, the company expects sugar production to increase by between 12% and 25% in the 2012/13 season.
Further, the Board has declared a final dividend of 170 cents per share, bringing the annual dividend to 290 cents per share.
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by RTT Staff Writer
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