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July 27, 2015 11:40 PM 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. 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’s downstre...

Illovo Sugar Park

1 Montgomery Drive

Mount Edgecombe,  

South Africa

12,838 Employees

Phone:

27 31 508 4300

Fax:

27 31 508 4535

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: 49
Total Annual Compensation: $6.1M
Financial Director, Executive Director, Member of Executive Committee, Member of Risk Management Committee and Member of Social & Ethics Committee
Age: 44
Total Annual Compensation: $4.5M
Commercial Director, Executive Director, Member of Executive Committee and Member of Social & Ethics Committee
Age: 55
Total Annual Compensation: $3.7M
Operations Director, Executive Director, Member of Risk Management Committee and Member of Social & Ethics Committee
Age: 55
Total Annual Compensation: $3.4M
Compensation as of Fiscal Year 2015.

Illovo Sugar Limited Key Developments

Illovo Sugar Limited provides earnings guidance for the fiscal year ending March 31, 2016

Illovo Sugar Limited provided earnings guidance for the fiscal year ending March 31, 2016. The company expects HEPS for the year ending March 31, 2016 will be between 25% and 45% below those of last year.

Illovo Sugar Ltd. Reports Unaudited Preliminary Consolidated Earnings Results for the Year Ended March 31, 2015

Illovo Sugar Ltd. reported unaudited preliminary consolidated earnings results for the year ended March 31, 2015. For the period, the company reported profit attributable to shareholders of ZAR 826.4 million or 179.4 cents per diluted basic share on revenue of ZAR 13,266.5 million against profit attributable to shareholders of ZAR 916.3 million or 198.0 cents per diluted share on revenue of ZAR 13,190.1 million a year ago. Operating profit of ZAR 1,655.1 million compared to ZAR 1,886.9 million a year ago. Profit before taxation of ZAR 1,331.8 million compared to ZAR 1,605.3 million a year ago. Diluted headline earnings were 179.0 cents per share against 194.0 cents a year ago. Net cash inflows from operating activities was ZAR 168.0 million compared to ZAR 840.8 million a year ago. Capital expenditure was ZAR 699.5 million compared to ZAR 722.0 million a year ago.

Illovo Sugar Limited to Appoint Suresh Kana as Independent Non-Executive Director

The board of Illovo Sugar Limited announced that, subject to his appointment by the shareholders of the company at its Annual General Meeting on 15 July 2015, Dr. Suresh Kana is to be appointed as an independent non-executive director of the Company, with effect from the close of the Annual General Meeting. Dr. Kana is the Territory Senior Partner of PwC Africa and a member of PwC's Global Strategy Council, until his retirement on 30 June 2015. He also served for four years on PwC's Global Board. He has been appointed a Non-Executive Director of the JSE Limited and Murray & Roberts Holdings Limited with effect from 1 July 2015.

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