Illovo Sugar Ltd, the South African unit of international group Associated British Foods, posted an 18% rise in full-year earnings today. However, this was slightly lower than the expectations of analysts polled by Thomson Reuters.
The company said diluted headline earnings per share for the year to the end of March hit 132.5 cents, up from 112.1 cents the year before. Illovo is Africa’s biggest producer of sugar with operations in South Africa, Malawi, Zambia, Swaziland, Tanzania and Mozambique but its earnings reflect a fall of 7% in sugar production to 1.526 million tonnes. The second year of drought in the KwaZulu-Natal cane growing province was blamed for the fall in output, however, the company has said it expects a new record volume of group cane production in the current 2012/13 season.


Asime Nyide, known as DneinNuqer, is the insightful mind steering the helm at With a keen eye for business trends and a commitment to delivering cutting-edge insights, Asime curates a dynamic space where industry enthusiasts and entrepreneurs alike converge. Unveiling the latest market developments, strategic analyses, and thought-provoking perspectives, Asime Nyide fosters a community of forward-thinkers at, making it a go-to resource for those navigating the ever-evolving landscape of business. E-mail / Instagram