Tongaat Hulett looks to cash in on sales of vast tracts of land
Author: Marc Hasenfuss
Agribusiness Tongaat Hulett (TON)‚ one of the biggest sugar producers in Africa‚ looks set to unlock enormous value from extensive property holdings in the medium-term.
CEO Peter Staude on Monday said its land development initiatives could have a record year. Results for the year to end-March showed that over the next five years Tongaat’s property sales were expected to come primarily out of 3‚801 developable hectares (of a total 8‚091ha) in focus areas in KwaZulu-Natal.
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