Zimbabwe: Tongaat Hulett On Sweet Path

28 December 2020

Tongaat Hulett's ailing fortunes in recent years appear to be on a trajectory of recovery, judging by its recently released interim financial results for the first half-year ended September 30, 2020 (H1 2020).

For the period under review, continuing operations reported a 37 percent increase in revenue to R8,2 billion (H1 2019: R6 billion), a 95 percent increase in operating profit to R1,9 billion (H1 2019: R973 million), and a 127 percent increase in earnings before interest, taxes, depreciation, and amortisation to R2,5 billion (H1 2019: R1,1 billion).

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