January 29, 2020 / 10:36 AM / a month ago

South Africa's Tongaat expects smaller interim loss

JOHANNESBURG, Jan 29 (Reuters) - South African sugar producer Tongaat Hulett said on Wednesday it expected a smaller interim loss helped by improved production in South Africa, cost-cutting and a turnaround in its business in Mozambique.

It expects a headline loss for the six months to September 30, 2019, of 300-322 million rand ($21-22.5 million) versus a restated loss of 354 million a year earlier.

The firm said it has entered into discussions with the JSE to request the lifting of a suspension of its shares, potentially in the first week of February.

Its interim results are scheduled to be released on January 31.

$1 = 14.3325 rand Reporting by Tanisha Heiberg; editing by Jason Neely

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