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Sentula expects lower full-year earnings
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19th April 2013
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JOHANNESBURG (miningweekly.com) – JSE-listed Sentula expected to report lower earnings for the financial year ended March 31, 2013, after lower platinum demand, increased volatility and reduced activity in the gold sector, besides other operational, sector-related and extraneous factors, weighed on the group.

The group on Friday said it would likely report a 2013 basic loss a share 20% greater than the 88.9c basic loss a share reported in the prior year.

Headline earnings a share were also expected to fall 20% lower than the 21.7c a share headline earnings for the year ended March 2012.

The losses were attributed to significantly lower demand for exploration drilling in the South African platinum-group metals sector; increased volatility and reduced activity in both gold exploration across the African continent and Mozambican coal exploration; and provisions made for slow-moving and obsolete inventory and consumables, besides others.

Edited by: Chanel de Bruyn

 

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