Reuters –
Johannesburg – Sugar producer Tongaat Hulett said on Monday first-half operating profit grew 9.3% as import tariff hikes and cost cuts partially offset the effects of low sugar prices.
Operating profit for the six months to September rose 9.3% to R1.5bn compared to the same period last year.
The South African Revenue Service raised sugar import tariffs after months of lobbying by producers who argued that the international price of the commodity was lower than production costs and that cheap imports were strangling business.
See full story here
