• SA cities need foreigners

    We need to protect our cities' cosmopolitan nature, says Mzwandile Jacks.

  • Am I a racist?

    Does hating government's arrogance, nepotism and greed make me a bigot, asks Anton Ressel.

  • Recipe for disaster

    Malema's flames of frustration are fuelling white extremism, says Leopold Scholtz.

Loading...
See More

Exxaro earnings tumble

Aug 22 2013 10:39 Reuters

Company Data

EXXARO RESOURCES LIMITED [JSE:EXX]

Last traded 94
Change 0
% Change 0
Cumulative volume 364369
Market cap 0

Last Updated: 17-04-2015 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Job cuts loom as Exxaro mulls closure

Exxaro set to sell Colliery

Gold Fields posts loss, snaps up Barrick assets

Exxaro earnings hit by lower coal price

Coal of Africa to shut SA colliery

Coal miners offer 5.6% wage hike

 
Johannesburg - Diversified resources group Exxaro Resources [JSE:EXX] reported a 39% drop in first-half headline earnings on Thursday, booking an impairment of R292m on a coal mine that could cease production.

Exxaro's headline earnings per (EPS) share came in at 712 cents for the six months to end June compared to 1 162 cents in the same period last year. Headline EPS is the main profit gauge and strips out certain one-time items.

The company, a big supplier to power utility Eskom, said total coal production coal production remained stable at 19 million tonnes.

An interim dividend of 235 cents a share was declared, a 33% decline from last year's interim payout.

The coal producer, with interests in iron ore and base metals, said its second-half results are expected to be negatively impacted by low coal prices, volatility in the rand-dollar exchange rate and the availability of trains for coal exports.

Exxaro is developing new markets in China, India and Pakistan and said a proposed ban on low-grade imports to China may benefit higher-grade South African coal.

Domestic market demand is expected to be sensitive to international market pricing influences but supply to Eskom from Exxaro remains on schedule at agreed supply levels despite delays in the utility's new power stations.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

eskom  |  exxaro  |  mining industry  |  profits

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Must see! The most luxurious dog house!

This dog house comes with a treadmill and hot tub, you have to see it!

 
 

Luxury living

WIN!
Ridiculous demands people with too much money make
8 of the priciest places to dock your yacht
Habits of the world’s richest people

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Government’s call for the private sector to add power to the grid is:

Previous results · Suggest a vote

Loading...