Tongaat Hulett surges as its flags a return to profit
The share price has reached its best level in seven months and the group expects an interim profit amid a turnaround for SA sugar
02 December 2020 - 14:11
Embattled sugar producer Tongaat Hulett’s share rose to an almost seven-month high on Wednesday, after it said it managed to return to profit and is now more than two thirds of the way to achieving its SA debt reduction target.
The group has battled with a corporate accounting scandal and a debt mountain that has forced it to sell assets, but said on Thursday it has now put R5.6bn towards its target of reducing debt by R8.1bn, with more to follow...
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