Company Overview of Illovo Sugar Limited
Illovo Sugar Limited, together with its subsidiaries, engages in the production and sale of sugar and downstream products in Africa. The company offers refined, unrefined, and specialty sugar for consumers; industrial sugar comprising refined and unrefined bulk sugar primarily for soft drink, confectionery, canning, and re-packing customers; and bulk raw sugar for refining, as well as provides sugar tube sachets, syrups, chocolate toppings, and sugar packs to the catering market. Its downstream products include ethanol, furfural and furfuryl alcohol, diacetyl, 2.3-pentanedione, agricultural nematicides, natural methanol, lactulose, anhydrous alcohol, rectified and potable extra neutral alcoh...
Illovo Sugar Park
1 Montgomery Drive
Key Executives for Illovo Sugar Limited
Total Annual Compensation: $4.1M
Total Annual Compensation: $5.5M
Total Annual Compensation: $4.0M
Compensation as of Fiscal Year 2013.
Illovo Sugar Limited Key Developments
Illovo Sugar Limited Reports Un-Audited Group Earnings Results for the Six Months Ended September 30, 2013; Provides Production Guidance for the Fiscal Year 2014
Nov 14 13
Illovo Sugar Limited reported un-audited group earnings results for the six months ended September 30, 2013. For the period, the group reported revenue of ZAR 6,238.5 million compared to ZAR 5,070.0 million, operating profit of ZAR 1,626.4 million compared to ZAR 1,485.7 million, profit before taxation of ZAR 1,491.8 million compared to ZAR 1,339.0 million, profit attributable to shareholders of ZAR 878.0 million or 190.1 cents per diluted share compared to ZAR 767.8 million or 166.6 cents per diluted share, headline earnings per share of 190.1 cents per diluted share compared to 166.7 cents per diluted share, cash operating profit of ZAR 1,846.8 million compared to ZAR 1,440.6 million for the last year. Cash utilised from operations was ZAR 259.5 million compared to ZAR 698.1 million and replacement capital expenditure was ZAR 184.1 million compared to ZAR 140.2 million for the last year.
Group sugar production for the full year of fiscal 2014 is anticipated to increase by around 5% with the increased output expected to come mainly from South Africa, and to a lesser extent Swaziland, while the other operations are forecast to remain at similar levels to last year.
Illovo Sugar Announces Director Changes
Aug 14 13
Illovo Sugar announced the appointment of Mr. John Hulley as an executive director of the company with effect from 1 September 2013, when he will take over from Mr. Dalgleish as Operations Director. Mr. Hulley currently serves as the Managing Director of the company's Swaziland subsidiary, Ubombo Sugar Limited and has significant operational experience both within the Group and the sugar industry generally. The board also announces the resignation of Mr. Richard Pike as a non-executive director, with effect from 31 August 2013 and the appointment of a new non-executive director, Mr. Graham Rhodes, with effect from 1 September 2013.
Illovo Sugar Ltd. Announces Management Changes
Jul 17 13
Illovo Sugar Ltd. announced that Mr. Graham Clark, who has served on the Illovo board since 1997, and as Managing Director since 2009, has given notice of his intention to resign from the Illovo board with effect from August 31, 2013. He will leave Illovo at the end of September 2013 in order to ensure an orderly hand-over to his successor. The board also announced the appointment of Mr. Gavin Dalgleish as Managing Director of Illovo Sugar Limited from September 1, 2013. Mr. Dalgleish currently serves as Illovo’s Group Operations director and has significant experience within the Group and the sugar industry generally.
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