The Groupís headline earnings for the year ended 31 December 2005 are expected to be between R460 million and R470 million (2004: R206 million). Headline earnings and headline earnings per share are thus expected to exceed the previous year by between 123% and 128% and between 121% and 125%, respectively.
The Group is benefiting from its multiple management actions to grow earnings. Operating profit is expected to be between R725 million and R735 million in 2005, compared to R358 million in 2004, with significant increases being achieved by all the operations. African Products is expected to contribute approximately 15% of the 2005 operating profit, Hulett Aluminium (the Groupís 50% shareholding) 22%, Moreland 30% and Tongaat-Hulett Sugar (including dividends from Triangle Sugar Zimbabwe) 33%.
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 Groupís auditors.
2 February 2006
Sponsor: Investec Bank Limited