Illovo Sugar Zambian And Malawian Operations Disappoint
News: South Africa-based sugar producer Illovo Sugar's profit from operations at its Zambian unit dropped 4% to ZMW303.2mn (USD45.9mn) for FY13/14 ended March 31. The sugar production season was 'disappointing' in terms of cane yield, as the annualised average across the entire harvest area declined 6% to 114 tonnes per hectare. The decline in production has been attributed to irrigation shortfalls the previous season and adverse weather conditions during the peak growing months, according to the company. The company's Malawian subsidiary registered a 12% decline in profit from operations MWK29bn (USD72.56mn).