February 28, 2015 2:01 AM ET

Food Products

Company Overview of Illovo Sugar Limited

Company Overview

Illovo Sugar Limited, together with its subsidiaries, produces and sells sugar and downstream products in Africa. The company offers industrial sugar comprising refined bulk sugar primarily for soft drink, confectionery, canning, and re-packing customers; refined and brown pre-pack sugar under the Illovo, Whitespoon, and Bwana Sukari names for retail and wholesale customers; bulk raw sugar for refining; specialty sugars; and syrup products. Its downstream products include ethanol, furfural and furfuryl alcohol, diacetyl, 2.3-pentanedione, agricultural nematicides, natural methanol, anhydrous alcohol, rectified and potable extra neutral alcohol, industrial alcohol, and lactulose. The company’...

Illovo Sugar Park

1 Montgomery Drive

Mount Edgecombe,  

South Africa

12,972 Employees

Key Executives for Illovo Sugar Limited

Managing Director, Executive Director, Member of Executive Committee, Member of Social & Ethics Committee and Member of Risk Management Committee
Age: 48
Total Annual Compensation: $4.3M
Financial Director, Executive Director, Member of Executive Committee, Member of Risk Management Committee and Member of Social & Ethics Committee
Age: 43
Total Annual Compensation: $4.4M
Commercial Director, Executive Director, Member of Executive Committee and Member of Social & Ethics Committee
Age: 54
Total Annual Compensation: $3.2M
Operations Director and Executive Director
Age: 54
Total Annual Compensation: $1.6M
Compensation as of Fiscal Year 2014.

Illovo Sugar Limited Key Developments

Illovo Sugar Limited Announces Interim Dividend for the Six Months Ended September 30, 2014

Illovo Sugar Limited announced that the distribution per share of 37.0 cents represents an interim capital distribution declared out of share premium against interim distribution of 37.0 cents in 2013. Record date was January 9, 2015. Payment of capital distribution on January 12, 2015.

Illovo Sugar Ltd. Reports Unaudited Earnings Results for the Six Months Ended September 30, 2014

Illovo Sugar Ltd. reported unaudited earnings results for the six months ended September 30, 2014. For the period, the company reported revenue of ZAR 5,932.1 million compared to ZAR 6,238.5 million a year ago. Operating profit of ZAR 1,392.5 million compared to ZAR 1,626.4 million a year ago. Profit before taxation of ZAR 1,263.9 million compared to ZAR 1,491.8 million a year ago. Profit attributable to shareholders of the company was ZAR 789 million or 171.2 cents per diluted and basic share against ZAR 878 million or 190.6 cents per diluted and basic share a year ago. Headline earnings were ZAR 788.1 million or 171.0 cents per share against ZAR 875.6 million or 190.1 cents per share a year ago. Group revenue down 5% impacted by 9% lower sugar production and reduced export market prices. Net asset value per share was ZAR 1,858.1 cents compared to ZAR 1,775.3 cents a year ago. Capital expenditure was ZAR 256.8 million compared to ZAR 346 million a year ago. Cash utilized by from operations was ZAR 608.6 million compared to ZAR 259.5 million a year ago.

Illovo Sugar Limited Announces the Resignation of Graham Michael Rhodes as Non-Executive Director, with Effect from October 31, 2014

The board of Illovo Sugar Limited announced the resignation of Mr. Graham Michael Rhodes as a non-executive director, with effect from October 31, 2014.

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