Diluted headline earnings for the year to March were R10.223 a share from R9.61 the previous year.
Local producers such as Tongaat say the world price of sugar is lower than the cost of production, resulting in money-losing sales.
But chief executive
"There is an underlying trend of volatility in the world sugar price," he said. "But imports dropped dramatically in April and May after some protection came in."
Total sugar output rose 13.5 percent to 1.424 million tons and the company said it was expected to rise to more than 1.8 million tons over the next four years.
The company said it expected international sugar prices to stabilise.
It lauded the Zimbabwean authorities for acting swiftly to remove illegal settlers off its sugar plantations last week.
Its shares closed 2.04 percent higher on the day at R125 on the JSE yesterday. - Reuters
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