News Formal

Market punishes Tongaat shares for more bad news

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 63%

United States News News

The group, whose sugar mills are closed in the wake of floods in KwaZulu-Natal, reported a fall in production and a need for more cash

Shares of sugar giant Tongaat Hulett booked their biggest one-day drop in six months on Wednesday, crashing by almost a fifth as investors digested a weak operational performance and news that it may ask shareholders for an additional R1bn in cash to shore up its balance sheet.

Tongaat said in a trading update shortly before markets closed on Tuesday that production had fallen by 9% to 463,000 tonnes in its year to end-March, while the floods in its home province of KwaZulu-Natal forced it to close sugar mills for the past 10 days...

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Market punishes Tongaat shares for more bad newsThe group, whose sugar mills are closed in the wake of floods in KwaZulu-Natal, reported a fall in production and a need for more cash
Source: BDliveSA - 🏆 12. / 63 Read more »

How high rental deposits have hamstrung SA's property marketHow high rental deposits have hamstrung SA’s property market - This presents a market failure for tenants and landlords alike I have always hated Bitcoin and thought it was a scam until a friend referred me to _ambreymarcus1, I made my first withdrawal of R100,000 in 2 weeks thanks to _ambreymarcus1.
Source: mailandguardian - 🏆 2. / 92 Read more »

Sponsored Content: Access over 17,000 global market indices, shares and commoditiesIG is the world’s No.1 choice for CFD trading. They give you access to over 17,000 global markets-including indices, shares, commodities and weekend markets.
Source: dailymaverick - 🏆 3. / 84 Read more »

WATCH: Market ReportBusiness Day TV speaks to Thamsanqa Netha from Shiloh Capital I have always hated Bitcoin and thought it was a scam until a friend referred me to _ambreymarcus1, I made my first withdrawal of R100,000 in 2 weeks thanks to _ambreymarcus1.
Source: BDliveSA - 🏆 12. / 63 Read more »

Netflix set for $60bn wipeout in market valueNetflix Inc. tumbled 39% on Wednesday, extending a selloff that has set it on course for a $60 billion wipeout in market value, after it reported a sharp decline in its subscriber base. It all started with a word to try something new. My first payment come after 3 days when I invested $1000 and since then I have received countless payment, he worthy to be recommended Harrismayson0
Source: BDliveSA - 🏆 12. / 63 Read more »

15 Players That Have Lost Market Value This SeasonAs the season begins drawing to its conclusion, we look at some high-profile footballers who have lost significant market value since the beginning of the campaign. SLInt MORE:
Source: Soccer_Laduma - 🏆 22. / 63 Read more »