Tongaat Hulett returns to profit amid turnaround for SA sugar
11 December 2020 - 08:38
UPDATED 14 December 2020 - 05:00
Embattled sugar producer Tongaat Hulett is pleased with its progress in dealing with a debt pile far in excess of its market value, with a weaker rand and robust SA sugar sales helping the group return to profit in the six months to end-September.
Tongaat, which was valued at about R1.4bn at Friday’s close, is battling to come back from a corporate scandal that prompted a collapse in the value of its shares and criminal charges against former executives...
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