JOHANNESBURG (miningweekly.com) – Diversified miner Exxaro Resources expects its consolidated net operating profit for the six months ended June 30, to be between R175-million and R359-million, or between 10% and 20%, higher than that reported in the first half of 2015.
The increase is owing to higher coal sales volumes, albeit at lower average realised selling prices.
Attributable earnings are expected to be between R14-million and R123-million, or between 1% and 11%, higher than the comparative period, primarily as a result of the higher net operating profit contribution from the coal business, but partially offset by lower equity-accounted earnings from investments.
Attributable earnings a share are, therefore, expected to be between 333c and 363c apiece.
Headline earnings a share are, however, expected to be between 284c and 310c, or between 2% and 6% lower than that reported in the prior comparable period.
Exxaro will release its interim results on August 18.
Edited by: Creamer Media Reporter
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