The company said the loss was largely due to an unscheduled and out of crop maintenance of its factory due to cane shortage.
“The revenues were impacted by the production time lost during the two and a half months maintenance shutdown as well as cane shortage and a lower average net cane price per tonne of sugar realised during the first quarter,” the firm said.
“Despite the challenges … the company looks forward to better performance in the second half of the year following successful resumption of production,” it said in a statement.
Low sugar production, high production costs and low prices resulting from illegal sugar imports further compounded the company’s half year, the firm said.