Headline earnings for the half-year ended 30 June 2006 are expected to be R297 million (2005: R208 million). Headline earnings and headline earnings per share are thus expected to exceed the previous half-year by 43% and 40% respectively. The half-year results include an average exchange rate of R6,31/US dollar.
Operating profit is expected to increase to R470 million (2005: R319 million) with sugar and property accounting for the largest portion of the 47% increase. The results include an effective world sugar price of 11 US cents per pound for exports.
The results for the six months to 30 June 2006 are scheduled for release on Monday, 31 July 2006.
This trading statement is issued in compliance with the JSE Listings Requirements. The above information has not been reviewed and reported on by the auditors.
19 July 2006
Sponsor: Investec Bank Limited