Interim Report for the six months ended 30 September 2009

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• On a seasonal basis –
  
  • Operating profit up 13% to R775.7 million
  
  • Cash operating profit up 39% to R862.3 million
  
  • HEPS down 3% to 106.5 cents due to higher effective tax rate
• Increased sugar production in all countries of operation, notably Zambia
• R3 billion rights issue successfully concluded
• Expansion projects on track – Swaziland, Mozambique, Mali 
• Interim dividend of 32 cents per share

Graham Clark, Managing Director, commented:

“These are good results, with increased production in all countries of operation and higher operating profits.  Earnings for the year will however be impacted by the strong rand.  We continue to invest in our business following the commissioning of the major expansion project in Zambia. The factory expansion and co-generation project in Swaziland has recently commenced and the expansion in Mozambique is progressing well.”

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