Tongaat Hulett, Illovo and Crookes Brothers have posted impressive results this year, writes Edward West THE share prices of South Africa’s two biggest sugar makers, Tongaat Hulett and Illovo Sugar, have performed well, rising about 31% and 18%, respectively, in the year to date.The share price of Crookes Brothers, the third-biggest listed sugar group, has increased about 31% over the same period.The increases represent a potentially good capital gain for investors in a weak economic environment where single-digit growth on investments is the norm.Gryphon Asset Management portfolio manager Reuben Beelders said this week that the strength of the share prices reflected, to an extent, the fact that many investors were seeking companies that showed relative certainty of earnings growth and consistent dividend yield — a category in which food producers tend to fall.The rise in share prices has been underpinned by strong earnings growth from the companies this year — and strong prospects ...
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