South African sugar maker Tongaat flags H1 loss

Sugar cane fields on a Tongaat Hulett farm in Shongweni, South Africa April 29, 2018. REUTERS/Rogan Ward

JOHANNESBURG (Reuters) – South Africa’s Tongaat Hulett said on Friday it expects to fall to a half-year loss as market conditions in its South African and Mozambique sugar operations weigh on revenue and operating profit.

The firm said it expects a headline loss per share, which strips out certain once off items and is the main profit measure in South Africa, of 74 cents per share for the six months ended Sept. 30 compared with headline earnings of 574 cents per share a year earlier.

The firm is scheduled to release its interim results on Friday.

Reporting by Tanisha Heiberg; editing by Jason Neely

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