SENS

16-02-2010

Trading Statement for the 12 months ended 31 December 2009


TONGAAT HULETT:  TRADING STATEMENT FOR THE 12 MONTHS ENDED 31 DECEMBER 2009

 

Tongaat Hulett Limited

(Registration number 1892/000610/06)

Share code: TON

ISIN ZAE000096541

 

TONGAAT HULETT:  TRADING STATEMENT FOR THE 12 MONTHS ENDED 31 DECEMBER 2009

 

Tongaat Hulett’s headline earnings for the 12 months to 31 December 2009 are expected to be 40% to 45% above the R583 million of 2008. Headline earnings per share are expected to increase by the same percentage.

 

Tongaat Hulett’s profit from operations for the 12 months to 31 December 2009 is expected to be between 33% and 38% above the R1,132 billion earned in 2008.

 

As reported in the interim results for the six months to 30 June 2009, the Zimbabwe operations are now consolidated in Tongaat Hulett’s financial results. The accounting treatment in terms of IFRS on the commencement of consolidation of the Zimbabwe operations gave rise to a balance sheet take-on gain of R1,969 billion, which is recognised in the income statement. This gain is excluded from headline earnings and profit from operations. It is included in total net profit. Total net profit for the 12 months is expected to be approximately R2,850 billion, with net profit per share being approximately 2750 cents per share.  

 

This trading statement is issued in compliance with the JSE Listings Requirements. The above information has not been reported on by the auditors.

 

The reviewed interim results for the 12 months ended 31 December 2009 are scheduled for release on Monday, 1 March 2010.

 

Tongaat Hulett’s financial year-end has changed to 31 March with effect from the current year and audited results for the 15 months ending 31 March 2010 are expected to be published on 31 May 2010.

 

Tongaat

16 February 2010

 

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