Tongaat to restate prior results after review

24th April 2019 By: Reuters

South African sugar producer Tongaat Hulett said on Wednesday it expects to restate prior financial information, after a review showed some accounting practices that might require remedial action.

"The implementation of a turnaround plan resetting the financial and commercial priorities, streamlining and rationalising businesses, and revitalising the executive leadership team has commenced," the company said.