May 28, 2018 / 5:28 AM / 6 months ago

Tongaat's FY profit falls 37 pct on higher sugar imports by South Africa

JOHANNESBURG, May 28 (Reuters) - Sugar producer Tongaat Hulett said on Monday its full-year profit fell by 37 percent, weighed down by higher-than-expected sugar imports by South Africa and low international prices.

Diluted headline earnings per share (HEPS) fell to 534.8 cents ($0.4296) in the year ended March 31, from 852.7 cents in the previous year. This was in line with the company’s guidance.

HEPS is the main profit measure used in South Africa which strips out certain once-off items. ($1 = 12.4500 rand) (Reporting by Tanisha Heiberg; Editing by Subhranshu Sahu)

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