Tongaat Hulett postpones its return to JSE until trading update
DURBAN – Agri-processing company Tongaat Hulett yesterday said it would postpone its return to the JSE until it had released its trading update for the six months to end September.
Tongaat, which applied for the voluntary suspension of its listing in June, said it expected to issue the trading guidance next month.
On Tuesday Tongaat released long-awaited results for the year to end March, reporting a headline loss of R923million compared to a restated loss of R947m in 2018. The group said its revenue declined 2percent to R17.07billion.
“The September 2019 trading statement will provide more recent financial information,” the group said.
The group said it was considering civil claims against the senior executives fingered in the PricewaterhouseCoopers (PwC) report, which would also involve actions to recover bonuses and benefits paid.
Source: iol.co.za