Tongaat-Hulett: Trading Statement
Headline earnings for the year ended 31 December 2006 are expected to be between R695 million and R705 million (2005: R466 million). Headline earnings and headline earnings per share are thus expected to exceed the previous year by between 49% and 51% and 46% and 48% respectively.
Operating profit is expected to increase to approximately R1 billion (2005: R730 million), with significant contributions to this growth coming from aluminium, property and sugar. Tongaat-Hulettís sugar operations (including dividends from Triangle Sugar in Zimbabwe) are expected to contribute approximately 35% of the 2006 operating profit, starch and glucose 9%, land and property development 32%, Hulett Aluminium (the Groupís 50% share) 21% and other items 3%. The South African sugar crop ended as the second lowest in 10 years. The 2006 results include an effective world sugar price of 12,8 US cents per pound (2005: 9,0 US cents per pound).
The results for the year ended 31 December 2006 are scheduled for release on Monday, 19 February 2007.
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.
6 February 2007
INVESTEC BANK LIMITED