Earnings releases


Audited Results & Final Dividend Declaration for the year ended 31 December 2001


THE TONGAAT-HULETT GROUP LIMITED
Registration No.1892/000610/06
Share code TOJK
ISIN ZAE000007449

   

AUDITED RESULTS AND FINAL DIVIDEND
for the year ended 31 December 2001

  • Revenue up 12% to R5,1 billion
  • Operating earnings up 14% to R584 million
  • Headline earnings per share up 20% to 598,4 cents
  • Total dividends per share up 27% to 270 cents

The audited results of the Group for the year ended 31 December 2001 have been prepared on a basis consistent with the prior year except for the changes in accounting policies detailed below.
 
The following accounting statements have been adopted with effect from 1 January 2001: AC 105 (Leases), AC 107 (Events After the Balance Sheet Date), AC 116 (Employee Benefits), AC 133 (Financial Instruments: Recognition and Measurement) and AC 135 (Investment Property). Comparative figures have been restated for the accounting policy changes, where applicable, other than for AC 133 which requires prospective application. The implementation of AC 133 had a R21 million favourable effect on the current year’s earnings after tax and resulted in borrowings increasing by R266 million, working capital by R235 million with reductions in deferred tax of R20 million and equity of R11 million.

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