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Exxaro falls after profit warning

Nov 30 2012 11:42
Reuters

Company Data

EXXARO RESOURCES LIMITED [JSE:EXX]

Last traded 115
Change 3
% Change 3
Cumulative volume 971054
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Shares of Exxaro Resources [JSE:EXX] fell more than 2% after the diversified mining firm said full-year headline earnings per share are expected to fall by at least 20%.

The company says its coal business is likely to deliver lower profit, due to a decline in prices and smaller volumes.

Exxaro also says it expects lower profits from its nearly 20% stake in Kumba Iron Ore's Sishen mine, which was battered by a strike this year.

Exxaro will release its earnings for the year to end-December on March 7 next year.

The shares are down 2.13% at R154.98.

 
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