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Royal Swaziland Sugar Says Full-Year Profit Declines on its Export Levels

Royal Swaziland Sugar Corp. posted a 52 percent decline in full-year profit to 78.8 million emalangeni compared with a year earlier as a stronger currency against the dollar and euro reduced income from exports.

Net income fell from 164 million emalangeni, the company said in a statement published in the Mbabane-based Times of Swaziland today.

Sugar production dropped 2.8 percent to 414,010 metric tons, the company said. Royal Swaziland Sugar produces about two-thirds of the country’s sugar, according to its website.

To contact the editor responsible for this story: Gordon Bell at gbell16@bloomberg.net

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