2003 revie w o f pera t i ns don macleod managing director review of operations 13 continued financial results the group achieved very good growth in year ended 31 march with headline earnings increasing to r454 6 million from r340 3 last per share rose by 33 136 8 cents was through a material increase cane and sugar production another strong performance downstream weaker average exchange rate also impacted favourably on turnover increased r7 billion operating profit 42 r1 086 4 margin 15 5 financing costs mainly due rise interest rates r19 1 r247 while taxation r141 r263 effective tax excluding abnormal items which 9 above after r573 cash generated 172 as result consolidation kilombero company
