Tongaat's FY profit falls 37 pct on higher sugar imports by South Africa

By Respect Gwenzi, May 29, 2018

Sugar producer Tongaat Hulett TONJ.J said on Monday its full-year profit fell by 37 percent, weighed down by higher-than-expected sugar imports by South Africa and low international prices. Diluted headline earnings per share (HEPS) fell to 534.8 cents ($0.4296) in the year ended March 31, from 852.7 cents in the previous year. This was in line with the company's guidance. is the main profit measure used in South Africa which strips out certain once-off items. ($1 = 12.4500 rand) REUTERS

ZEEX’s First Partner: Evaluating INVESCI’s Real Market Impact Before the First Listing

The Zimbabwe Stock Exchange Limited has signed a Memorandum of Understanding with INVESCI Asset Management, establishing a strategic institutional partnership to advance the growth and development of

1 day ago

Zim’s Potato Sector: Set for the Biggest Winter Potato Recovery

Zimbabwe is expecting 243,850 metric tonnes of Irish potato from the 9,000 hectares planted in the 2026 winter season, with 92,400 metric tonnes already produced from the 3,300 hectares already harves

1 day ago

Squeezing the Soil: How GMB’s Over ZiG 200 Million Arrears Threaten the Next Season

The Grain Marketing Board is owing 17.27% of ZiG payment obligations to farmers who delivered grain in the FY2025 marketing season amounting to ZiG 50,192,313.52. Transporters who hauled grain to GM

1 day ago

A Historic First: Zimbabwe Confirms Highest Maize Harvest in National History

Zimbabwe's maize harvest has risen from 2,341,857 metric tonnes presented during the 16th Post-Cabinet Briefing to 2,824,110 metric tonnes confirmed at the 18th Post-Cabinet Briefing on 9 June 2026, a

Jun 10, 2026

Zimbabwe’s Soyabeans Domestic Supply Jumps to 54% from 19% in 2015:Highest Yield Post Land Reform

Zimbabwe's 2025/26 soyabean harvest reached 119,067 metric tonnes from 56,562 hectares harvested, according to the Second Round Crop, Livestock and Fisheries Assessment Report presented to Cabinet on

Jun 10, 2026

Zimbabwe’s Cement Industry: What Record Cement Imports Tell Us About the Economy

Zimbabwe's monthly Portland cement import bill reached USD 12.02 million in April 2026, the highest single monthly value recorded in the sixty-four months dataset running from January 2021 through Apr

Jun 09, 2026

SADC Growth Shift: Zimbabwe Builds Capacity as South Africa Loses Investment Momentum

South Africa's economy expanded 0.5% quarter-on-quarter in Q1 2026, its sixth consecutive quarter of growth and the strongest performance since Q2 2025, as nine of ten industries registered positive o

Jun 09, 2026

Why Diesel Imports Set New Monthly Record of Above USD 130 Mn: Barometer of Production?

Zimbabwe's April 2026 diesel import bill reached USD 132.5 million, a 44.6% increase from March 2026's USD 91.6 million and the highest monthly value recorded from December 2022 through April 2026, a

Jun 09, 2026