Latest news with #Dalgleish
IOL News
03-07-2025
- Business
- IOL News
Tongaat Hulett's sugar mills lead South Africa in recovery performance
Sugar cane on its way to be processed at Tongaat Hulett's Maidstone Mill. Tongaat's three South African sugar mills, Maidstone, Amatikulu and Felixton have benefited from substantial capital investment over the past three years, following years of disinvestment. Image: Karen Sandison/Independent Newspapers Tongaat Hulett's (THL) three South African sugar mills, Maidstone, Amatikulu and Felixton, which benefited from capital investment since the group went into business rescue, have ranked as the top three nationally for sugar recovery in the current sugar milling season. The recognition indicates the scale of THL's operational turnaround since entering business rescue in October 2022 - the group said in a statement Thursday its mills were now not only stable, but leading performance across the broader South African sugar sector. Tongaat Hulett CEO Gavin Dalgleish, together with the Business Rescue Practitioners (BRPs), recently met with grower representatives in a series of engagements. These meetings focused on sharing updates about the company's progress under business rescue, as well as the improvements seen across its milling and refining operations. The group's three mills, refinery and animal feed plant, which had previously suffered years of under-investment, benefited from a R1.45 billion capital injection over the past three years, secured through the Industrial Development Corporation (IDC). 'The result is a marked improvement in operational performance, with cane being crushed much more efficiently and reliably than before and a renewed sense of confidence among growers, staff, and industry partners,' Dalgleish said. The capital upgrades were accompanied by the recruitment of key technical staff and an investment in training and development of employees. 'The investments made were not just in machinery, but also in our people – and the results are clear. Our teams are now less focused on reactive maintenance and more focused on performance improvement. It's this shift in mindset that's powering real, sustainable change,' said Dalgleish. He said these efforts had translated into year-on-year improvements in key production and efficiency metrics for the current milling season. According to independent industry benchmarking, THL's performance in these metrics had placed its mills among the top in the country – exceeding the industry benchmark standards by a greater margin than anyone else, said Dalgleish. The benchmark standards include the recoverable value metric, which measures the value of molasses and sugar recovered from the sugarcane delivered by an individual grower, as well as the crystal recovery efficiency metric, which measures the percentage of sucrose extracted from the cane that is successfully crystallised into marketable sugar. During the meetings, it became clear that growers placed strong value on consistent, high-efficiency milling, and a reliable mill was worth more to them than any other short-term price incentives. 'Any grower would have noticed that the Maidstone mill is certainly performing better than it has in the past decade,' said Pratish Sharma, Senior Maidstone Grower and local SA Canegrowers representative. 'The investments in the mills give us great confidence that we're going to have a mill capable of crushing our crop. That is crucial, because a high-performing mill gives growers the confidence to invest in and expand their own farms,' said Sharma.
IOL News
27-06-2025
- Business
- IOL News
Tongaat Hulett's journey to recovery: new leadership and challenges ahead
Gavin Dalgleish was appointed as CEO with effect from 1 June 2025, marking a significant step in the final phase of implementing the approved Business Rescue Plan and setting the stage for a seamless transition of Tongaat Hulett's business, assets, and people to Vision, the consortium acquiring the group. Image: Supplied Tawanda Karombo Tongaat Hulett, the beleaguered South African agro-processing firm, is poised to emerge from the shadow of its tumultuous past, thanks to new leadership and a significant restructuring initiative. Gavin Dalgleish, the company's new CEO, has expressed optimism about the path towards stability following a protracted period marked by scandals and heavy debt that once threatened its existence. Dalgleish was appointed as CEO with effect from 1 June 2025, marking a significant step in the final phase of implementing the approved Business Rescue Plan and setting the stage for a seamless transition of Tongaat Hulett's business, assets, and people to Vision, the consortium acquiring the group. In a recent interview, Dalgleish detailed the pivotal changes occurring at Tongaat Hulett, which has been under business rescue since an accounting scandal left it with debts exceeding R8 billion. Following the acquisition by the Vision Group Consortium, led by seasoned African investors Robert Gumede and Rutenhuro Moyo, the company is now focusing on debt recovery, having recently settled its obligations with creditors. 'We need to restore the faith of our employees, we need to restore the faith of our creditors and all our stakeholders that we're now functioning as a business again, and we're a good place and a reliable partner to do business with,' Dalgleish told Business Report in an interview on Thursday. Tongaat Hulett, however, will still be up against headwinds buffeting the South African and regional economic landscape. For example, upon exiting business rescue, the company will be up against rising imports of cheap sugar and currency volatility. For Dalgleish, the company's recovery will not be quick paced. In fact, he expects the rest of this year to be tougher for Tongaat Hulett. 'Like any other business, we're facing headwinds of a strengthening rand, reduced world market prices of sugar, and imports that flow from that. So for South Africa we're expecting this year to be a slightly tougher year,' he said. Tongaat and the Vision Group principals recently went on a roadshow to meet stakeholders in KwaZulu Natal, Zimbabwe and Mozambique. During those trips, the company explained to stakeholders the new approach to doing business. Dalgleish said together with the Vision principals, the company had sought to 'win back their (stakeholders) trust' and confidence as investors and as a business. Tongaat employs 2 400 people and 25 000 others across the extended value chain. Dalgleish said he felt overwhelmed by the responsibility he carries on behalf of the employees, value chain stakeholders and others linked to the company. He said sustaining jobs for those employed and impacted by the company was a top priority under his leadership. 'I'm excited by the challenge and the opportunity, as I said, I'm pleased with the the resilience of the people and the business that we found. And because of the social economic impact of the business, I have a great sense of responsibility.' After fully settling outstanding obligations to the company's lenders as of 9 May 2025, the finalisation of the asset transfer to Vision Group 'is expected imminently,' the company said at the beginning of this month, underscoring 'Tongaat Hulett's progress toward financial and operational' recovery. Last year, creditors in Tongaat voted in favour of a business rescue plan put forward by Gumede's investment consortium, Vision. This was after an accounting scandal rocked Tongaat Hulett, with the company tail-spinning into a debt of R8.2 billion, prompting shareholders to adopt an amended business rescue plan. Tongaat Hulett is envisioned to continue playing critical roles in the economic fabric of Southern Africa under its new ownership. In South Africa, the business 'remains a cornerstone of the sugar industry, sourcing cane from 15 000 small-scale growers – thereby sustaining local farming communities, and underpinning numerous rural economies,' especially in the KwaZulu-Natal province. In Zimbabwe, Tongaat Hulett owns two operating businesses, Triangle and separately listed Hippo Valley Estates. Triangle said recently that it was facing operational challenges that had forced it to retrench employees after cost cutting measures failed to yield a respite. BUSINESS REPORT
Business Times
25-06-2025
- Business
- Business Times
Australia cashes in on record sheep prices as meat exports surge
[CANBERRA] Australian sheep farmers are cashing in on record-high sheep prices, as rising global demand for lamb and mutton fuels a boom in exports from the world's top sheep meat supplier. Prices are likely to rise further in the coming years as production in New Zealand, Australia's biggest sheep meat export rival, stagnates, analysts said. 'We've seen waves of higher and higher pricing as export demand and our market share has grown,' said Matt Dalgleish, a livestock and meat analyst at consultants Episode 3. While there will be seasonal price volatility, he said, 'until the underlying pressure of limited supply and strong growth in demand changes, there should be more good times ahead for Australian producers.' Australia last year exported 702,000 metric tons of lamb, mutton and goat meat worth US$3.6 billion, almost 200,000 tons more than in 2019, previously the biggest export year. Shipments in the first four months of this year were 10 per cent higher than during the same period in 2024, Australian trade data show. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Processors' need for animals pushed the price of heavy lambs to record highs of nearly US$7.14 a kilogram last week, up 50 per cent from the same time last year, according to a national price indicator compiled by industry body Meat & Livestock Australia (MLA). China is the biggest importer of sheep meat. Other major buyers include the United States, Britain, the European Union and the Middle East. Rising incomes and populations are fuelling demand for sheep meat, and high beef prices, especially in the United States, are encouraging people to switch to lamb and mutton, Dalgleish said. Helping Australia take advantage of that growth is an ongoing decline in New Zealand's sheep industry. The two countries account for more than 80 per cent of global sheep meat exports, according to MLA. The number of sheep in Australia grew in recent years, allowing farmers to better supply processors, but New Zealand's flock has shrunk every year since 2012, according to the country's statistics agency – something New Zealand farmers say is partly due to the conversion of grazing land to pine forests that earn carbon credits. 'New Zealand is the other major global exporter,' said Angus Gidley-Baird, an analyst at Rabobank. 'Its production is stagnating or retracting. So any growth in global demand is Australia's opportunity for the taking.' REUTERS
Scottish Sun
09-06-2025
- Entertainment
- Scottish Sun
Star of hit Channel 5 crime drama cast in HBO's Harry Potter TV series
The star joins a list of talented names already cast for the series Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) THE star of a Channel 5 crime drama has reportedly been cast in HBO's upcoming Harry Potter TV series. Bosses have been assembling the ensemble for the new adaptation of JK Rowling's seven books. Sign up for the Entertainment newsletter Sign up 5 A Channel 5 crime drama star has been reportedly cast in HBO's Harry Potter TV series Credit: Channel 5 5 Bertie Carvel is said to be playing Cornelius Fudge, the Minister for Magic Credit: PA 5 The late Robert Hardy played Fudge in the beloved films Credit: Handout According to Deadline, Bertie Carvel has been tapped to play Cornelius Fudge, the Minister for Magic. He is reportedly set for a recurring role in the highly anticipated show. The late actor Robert Hardy portrayed Fudge in four Harry Potter films. HBO declined to confirm Bertie's involvement, with a spokesperson saying "such a high-profile series will draw a lot of rumour and speculation" as well as "we will only confirm details as we finalise deals". He would join Dominic McLaughlin, Arabella Stanton and Alastair Stout - who have been cast as Harry Potter, Ron Weasley and Hermione Granger. The confirmed adult cast includes John Lithgow as Dumbledore, Janet McTeer as McGonagall, Paapa Essiedu as Snape and Nick Frost as Hagrid. Rounding out the announced names are Luke Thallon as Quirrell and Paul Whitehouse as Filch. Bertie, 47, currently plays the title role in Dalgleish, based on PD James' Adam Dalgleish novels. Set in the 1970s, the premise follows recent widower DCI Dalgleish investigating complex crimes. He is a two-time Olivier Award winner for his performance as Ms Trunchbull in Matilda: The Musical and Rupert Murdoch in Ink, respectively. Harry Potter fans spot glaring mistake in iconic movie scene 22 years after film came out No stranger to playing politicians, Bertie recently starred as Tony Blair in The Crown. Following a supporting role in season five, he became a main cast member for the sixth and final season. The casting of the Harry Potter TV show's three young leads was officially announced last month. Showrunner/executive producer Francesca Gardiner and executive producer/director Mark Mylod said: "After an extraordinary search led by casting directors Lucy Bevan and Emily Brockmann, we are delighted to announce we have found our Harry, Hermione and Ron. "The talent of these three unique actors is wonderful to behold and we cannot wait for the world to witness their magic together on-screen." They added: "We would like to thank all the tens of thousands of children who auditioned. "It's been a real pleasure to discover the plethora of young talent out there.' 5 Bertie previously played Tony Blair in The Crown Credit: © 2021 Netflix, Inc. 5 The Harry Potter TV show's three young leads were announced last month Credit: AP How to spot a rare Harry Potter book AS JK Rowling's popularity has rocketed, so has the value of the first edition of Harry Potter and the Philosopher's Stone. If you think you might have one, then first look to see if Bloomsbury is listed as the publisher on the title page at the bottom. The copy should be a first edition - which will be noted within the first few pages. The latest date listed in the copyright information must by 1997. It should be credited to "Joanne Rowling" and not "J.K Rowling" and carry a print line that reads " 1 0 9 8 7 6 5 4 3 2 1" on the copyright page. There is a mistake on page 53 where '1 wand' appears twice in the list of school supplies Harry receives from Hogwarts, which was corrected in later print runs. For the other titles in the Harry Potter series, it is only the first hardback editions with the dust jacket that have any collectable value.
The Irish Sun
09-06-2025
- Entertainment
- The Irish Sun
Star of hit Channel 5 crime drama cast in HBO's Harry Potter TV series
THE star of a Channel 5 crime drama has reportedly been cast in HBO's upcoming Harry Potter TV series. Bosses have been assembling the ensemble for the new adaptation of JK Rowling's seven books . 5 A Channel 5 crime drama star has been reportedly cast in HBO's Harry Potter TV series Credit: Channel 5 5 Bertie Carvel is said to be playing Cornelius Fudge, the Minister for Magic Credit: PA 5 The late Robert Hardy played Fudge in the beloved films Credit: Handout According to He is reportedly set for a recurring role in the highly anticipated show. The late actor Robert Hardy portrayed Fudge in four Harry Potter films. HBO declined to confirm Bertie's involvement, with a spokesperson saying "such a high-profile series will draw a lot of rumour and speculation" as well as "we will only confirm details as we finalise deals". Read more on Harry Potter He would join Dominic McLaughlin, Arabella Stanton and Alastair Stout - who have been cast as Harry Potter, Ron Weasley and Hermione Granger. The confirmed adult cast includes John Lithgow as Dumbledore, Janet McTeer as McGonagall, Paapa Essiedu as Snape and Rounding out the announced names are Luke Thallon as Quirrell and Paul Whitehouse as Filch. Bertie, 47, currently plays the title role in Dalgleish, based on PD James' Adam Dalgleish novels. Most read in News TV Set in the 1970s, the premise follows recent widower DCI Dalgleish investigating complex crimes. He is a two-time Olivier Award winner for his performance as Ms Trunchbull in Matilda: The Musical and Rupert Murdoch in Ink, respectively. Harry Potter fans spot glaring mistake in iconic movie scene 22 years after film came out No stranger to playing politicians, Bertie recently starred as Tony Blair in The Crown. Following a supporting role in season five, he became a main cast member for the sixth and final season. The casting of the Showrunner/executive producer Francesca Gardiner and executive producer/director Mark Mylod said: "After an extraordinary search led by casting directors Lucy Bevan and Emily Brockmann, we are delighted to announce we have found our Harry, Hermione and Ron. "The talent of these three unique actors is wonderful to behold and we cannot wait for the world to witness their magic together on-screen." They added: "We would like to thank all the tens of thousands of children who auditioned. "It's been a real pleasure to discover the plethora of young talent out there.' 5 Bertie previously played Tony Blair in The Crown Credit: © 2021 Netflix, Inc. 5 The Harry Potter TV show's three young leads were announced last month Credit: AP How to spot a rare Harry Potter book AS JK Rowling's popularity has rocketed, so has the value of the first edition of Harry Potter and the Philosopher's Stone. If you think you might have one, then first look to see if Bloomsbury is listed as the publisher on the title page at the bottom. The copy should be a first edition - which will be noted within the first few pages. The latest date listed in the copyright information must by 1997. It should be credited to "Joanne Rowling" and not "J.K Rowling" and carry a print line that reads " 1 0 9 8 7 6 5 4 3 2 1" on the copyright page. There is a mistake on page 53 where '1 wand' appears twice in the list of school supplies Harry receives from Hogwarts, which was corrected in later print runs. For the other titles in the Harry Potter series, it is only the first hardback editions with the dust jacket that have any collectable value.
