Tongaat Hulett pivots to profitability with Hudson at the helm
‘Total headline earnings recorded a sharp turnaround, increasing 156% to a profit of R175m from a loss of R315m’, says Tongaat Hulett.
‘Total headline earnings recorded a sharp turnaround, increasing 156% to a profit of R175m from a loss of R315m’, says Tongaat Hulett.
Tongaat Hulett CEO Gavin Hudson joined Alec Hogg to speak about about the business, which just a year ago was on the brink of collapse.
Alec Hogg shares his rational perspective on the exciting business story of Tongaat Hulett and the potential turnaround opportunity the company may have.
After being close to its best level in months, the rand weakened significantly on Monday – tumbling more than 3% from R16.10 on Friday to R16.82.
Former banker turned shareholder activist Dave Woollam explains why he decided to take a deep dive into troubled Tongaat Hulett.
Gavin Hudson, CEO of Tongaat Hulett, believes Barloworld’s call of a material adverse change event is premature. He, however, remains positive that the deal will go through.
Tongaat Hulett is of the view that it continues to meet its obligations under the agreement reached with Barloworld in February this year on the sale of its Starch Business.
South Africans are reeling from the news that the economy shrunk in the first quarter of this year. Analysts have blamed Eskom power cuts for hammering manufacturing, mining and agricultural output.
Barloworld’s Khula Sizwe, which aimed to attract investors from the black public was oversubscribed, with over 50,000 applications received.
Barloworld is punting its Khula Sizwe offering as an exciting opportunity to own a stake of just under R3bn in commercial property.