Tongaat-Hulett – Trading statement and timing of 2005 interim results release
The Tongaat-Hulett Group Limited
(Registration number 1892/000610/06)
Share code: TNT
Issuer Code: THGL
TONGAAT-HULETT – TRADING STATEMENT AND TIMING OF 2005 INTERIM RESULTS RELEASE
The Group’s results for the half-year ended 30 June 2005 will be released on Monday, 1 August 2005.
Headline earnings are expected to be between R205 million and R210 million for the half-year (2004: R53 million). Headline earnings and headline earnings per share for the half-year are thus expected to exceed the comparative period last year by between 287% and 297% and between 282% and 292%, respectively.
Operating profit improvements have been achieved in Hulett Aluminium, African Products and Tongaat-Hulett Sugar. Moreland has seen a reduction in operating profit as it is in the process of replenishing its stock. Progress continues with actions throughout the Group to grow earnings. An offshore cash translation gain of R39 million has been recorded. A deferred tax reduction of R28 million has been brought to account as a result of the company tax rate change.
This trading statement is issued in compliance with the JSE Securities Exchange South Africa Listings Requirements. The above information has not been reviewed and reported on by the Group’s auditors.
21 July 2005
Sponsor: Investec Bank Limited