Tongaat needs to restate results after finding inflated figures
The group may have to reduce the equity on its 2018 balance sheet by up to R4.5bn, with its results probably only being released by October
31 May 2019 - 14:36
Sugar-producer Tongaat Hulett says it needs to restate its financial statements for the year to March 2018 after identifying “past practices, which are of significant concern”.
“These past practices appear to have resulted in financial statements that did not reflect Tongaat Hulett’s underlying business performance accurately,” the company said...
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