Interim Results for the Half-Year Ended 30 June 2009

Revenue of R3,9 billion (2008: R3,1 billion)
Profit from operations of R864 million
(2008: R443 million)
Headline earnings of R440 million
(2008: R252 million)
Interim dividend of 100 cents per share
(2008: 160 cents per share)
Consolidation of Zimbabwe operations

The first half of 2009 was characterised by the restoration of key macroeconomic fundamentals for the sugar business in Zimbabwe and limited opportunity for agricultural land conversion as a result of testing market conditions for property developers in South Africa. Headline earnings increased to R440 million compared to R252 million in the first half of 2008.

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