Illovo Sugar 'pleased with results'

Illovo Sugar posted a 35% rise in first-half headline earnings per share on Thursday, boosted by strong domestic sugar sales, higher world and regional sugar prices and weaker exchange rates.

The company, a unit of Associated British Foods, said interim dividend rose 26% to 41,5 cents per share. It said revenue increased 30% to R4,5-billion.

“We are pleased with these results, which have benefited from strong domestic sugar sales, higher world and regional sugar prices, weaker exchange rates, and good performance from the downstream operations,” Don MacLeod, Illovo’s managing director, said in a statement.—Reuters

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