reports
- Jiten Bechoo
- Pratish Soni
Tongaat Hulett | The way the cookie crumbles
TON's H1 '19 financial results were weak, despite 28% yoy growth in sugar sales. Diluted HEPS fell by 113% yoy to -74cps. In South Africa, import competition reduced both domestic sales volumes and prices. Currency fluctuations and illegal imports hindered profits in Mozambique. Due to the challenges in SA and Mozambique, cane values fell, which affected earnings. The land business revenue fell by c.96% yoy to R28m at a loss of c.R30m compared to a profit of R661m in FY ‘18, as negotiatio...
- Victor Dima
Tongaat Hulett (HOLD, TP ZAR 140/share) - FY 17A result: 300 bps y/y E...
​TON FY 17A sales estimate 5% below ACe and 8% below consensus driven by lower than expected sugar operation revenues.300bps y/y improvement in EBIT margin with strong sugar operations margin despite weak operating performance by starch division. Muted performance from Land conversion and development division, with only 75 hectare land development vs. 121 hectare in FY 16A.Strong guidance for sugar production: +44% over 2 years from FY 17A level of 1.05m tons. Land development guidance healthy...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.