Audited Group Results for the year ended March 2011

Highlights

• Earnings impacted by adverse weather conditions and currency movements
• Cash generation remains strong
• Swaziland expansion and co-generation project commissioned

Quote:

Graham Clark, Managing Director, commented:

“As predicted, the past year was very challenging for the company. This was due to adverse weather conditions across most of our operations and also detrimental currency movements which had a severe impact on our results. Notwithstanding, our total cane production was at record levels although the yields were affected by the weather. Sugar production in South Africa was particularly hit by the drought but this was offset by increased production elsewhere in the group, vindicating the company’s strategy of having diversified operations across Africa. We will continue to invest in growth opportunities in our operations and recently commissioned the major factory expansion and co-generation project in Swaziland. We expect a marginal increase in our sugar production in the current season.”

Enquiries: