Tongaat Hulett returns to profit amid turnaround for SA sugar

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...