SALIENT FEATURES OF 2013/14
REVENUE + 9% (2013: R14,373 billion) |
OPERATING PROFIT +11% (2013: R2,131 billion) |
OPERATING CASH FLOW +34% (2013: R2,182 billion) |
HEADLINE EARNINGS + 4% (2013: R1,067 billion) |
ANNUAL DIVIDEND +6% (2013: 340 cents per share) |
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Profit from land conversion of R1,080 billion on sales of 259 developable hectares. A further
8 200 developable hectares still available and
earmarked for development.
Starch operations generated operating profit of R482 million (+24%). |
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Sugar production increased by 170 000 tons to 1,424 million tons (existing capacity > 2,1 million tons per annum). Major cost reductions were achieved. Low international sugar prices and severe import competition were experienced. Overall revenue earned and cane valuations were negatively impacted by some R1,5 billion compared to the prior year. |
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In KwaZulu-Natal, new sugarcane planting totalled 24 979 hectares over the last three years and has created some 6 250 direct jobs in rural areas. A Jobs Fund grant of R150 million has been secured for further new planting over the next three seasons. In Zimbabwe, there are now some 813 active indigenous private farmers, farming on some 14 000 hectares and employing more than 6 700 people, who supplied 1 017 000 tons of cane generating US$58 million in annual revenue in 2013/14. |
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An Integrated Human Settlement project in Cornubia was officially opened on 6 April 2014. The project will provide 15 000 fully subsidised houses and 10 000 houses that will be sold by the municipality at market-related prices. It includes social infrastructure, commercial and industrial developments. |
