Tongaat progresses turnaround strategy, despite headwinds

JSE-listed Tongaat Hulett’s results for the year ended March 31 showed continued progress in the turnaround strategy, notwithstanding some headwinds along the way and a challenging trading environment arising from the Covid-19 pandemic, the company says. Revenue from continuing operations decreased by 3% year-on-year to R14.92-billion, while operating profit from continuing operations declined by 44% to R1.82-billion.

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