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February 09, 2016 5:45 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 Executive Committee, Member of Social & Ethics Committee and Member of Risk Management Committee
Age: 55
Total Annual Compensation: $3.4M
Compensation as of Fiscal Year 2015.

Illovo Sugar Limited Key Developments

Illovo Sugar Ltd. Reports Unaudited Consolidated Earnings Results for the Six Months Ended September 30, 2015

Illovo Sugar Ltd. reported unaudited consolidated earnings results for the six months ended September 30, 2015. For the period, the company reported profit attributable to shareholders of the company was ZAR 141.8 million or 30.8 cents per diluted basic share on revenue of ZAR 5,489.1 million against profit attributable to shareholders of ZAR 789 million or 171.2 cents per diluted share on revenue of ZAR 5,932.1 million a year ago. Operating profit was ZAR 881.4 million compared to ZAR 1,392.5 million a year ago. Profit before taxation was ZAR 450 million compared to ZAR 1,263.9 million a year ago. Diluted headline earnings were 71.7 cents per share against 171 cents a year ago. Purchase of property, plant and equipment was ZAR 638.7 million compared to ZAR 250.3 million a year ago. Net asset value per share was 1,333.8 cents compared to 1,858.1 cents a year ago. Net cash outflow from operating activities was ZAR 1,837.7 million compared to ZAR 1,271.1 million a year ago.

Illovo Sugar Limited Provides Earnings Guidance for the Six Months Ending September 30, 2015 and Year Ending March 31, 2016

Illovo Sugar Limited provided earnings guidance for the six months ending September 30, 2015. For the six months, the company expected headline earnings per share to be in range of 85.5 cents to 68.4 cents and earnings per share to be in range of 42.8 cents to 25.7 cents. For the year ending March 31, 2016, the company expected that due to the write-off, earnings per share is expected to reflect a decline of between 50% (89.7 cents) and 70% (53.8 cents) compared to 179.4 cents for the year ended March 31, 2015. However, headline earnings per share is expected to remain in line with the range reported on May 25, 2015, a decrease of between 25% (134.2 cents) and 45% (98.4 cents) compared to 179.0 cents for the period ended March 31, 2015. The headline earnings per share decline is due mainly to the challenging conditions reported in Preliminary Report for the year ended 31 March 2015 and is further impacted by the seasonal phasing of production and sales at the half year.

Illovo Sugar Limited to Report First Half, 2016 Results on Nov 30, 2015

Illovo Sugar Limited announced that they will report first half, 2016 results on Nov 30, 2015

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