Tongaat to swing to H1 headline profit

South Africa’s Tongaat Hulett said on Wednesday it expects to swing to a headline profit of between R158 million ($10.39 million) and R189 million in the first half, thanks to a turnaround at its local operations.

The sugar producer said headline earnings for the six-months ended September 30 will surge by between 150% to 160% from a headline loss of R315 million in the comparable period last year.

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Source: moneyweb.co.za