Illovo Sugar Profit Jumps 29% as Output, Sales Volumes Climb
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Illovo Sugar Ltd., Africa’s largest sugar producer, said fiscal first-half profit rose 29 percent as higher rainfall boosted output and as sales increased.
Net income climbed to 777.7 million rand ($87 million) in the six months through September from 604.1 million rand a year earlier, the Mt. Edgecombe, South Africa-based company said today in a statement. Sugar output expanded 17 percent and sales volumes added almost 10 percent, it said.