Exxaro first half earnings drop 62%, cuts dividend | Fin24
  • Another VAT hike?

    Absa warns that govt may again announce an increase in value added tax in next month's Budget.

  • SA Revenue Service

    The tax agency says a unit that tackles illicit financial flows has recovered R2.6bn since April 2019.

  • State Capture Inquiry

    Former Eskom chairperson Zola Tsotsi says Tony Gupta threatened to have him removed.


Exxaro first half earnings drop 62%, cuts dividend

Aug 20 2015 10:56


Company Data


Last traded 124
Change -5
% Change -4
Cumulative volume 70330
Market cap 0

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

Related Articles

Exxaro cuts capex as low prices hurt

Exxaro to buy stake in Total, community wants share

Exxaro expects lower earnings, shares drop

Exxaro starts R250m water plant at SA coal mine

Exxaro posts 6% drop in adjusted earnings

Exxaro to fall into loss for 2014 financial year


Johannesburg - South African miner Exxaro [JSE:EXX] posted a 62% fall in half-year earnings and cut its interim dividend on Thursday following a drop in commodity prices.

Exxaro, South Africa's second-biggest coal miner, posted first-half diluted headline earnings per share at 303 cents from 790c in the same period a year ago.

The company said in May that it expected its first half headline earnings, the main profit measure, to decline by at least 20%.

Exxaro, which is especially exposed to swings in the price of coal, iron ore and mineral sands, expects tough market conditions to continue.

"We expect market oversupply, coupled with low demand in our commodity portfolio to persist in the near term, which will demand more rigorous efforts to ensure short-term survival and sustainable long-term profitability," the company said in a statement.

Exxaro declared an interim dividend of 65 cents, down 75% on last year.

exxaro  |  earnings reports  |  mining


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
Comments have been closed for this article.

Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote