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Wescoal readies for H1 headline earnings jump

27th October 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – Wescoal expects headline earnings for the six months ended September 30 to increase by between 25% and 36% to between 14.2c and 15.5c a share.

In contrast, the company said on Monday that earnings a share for the period were likely to drop by between 58% and 62% to between 14.2c and 15.5c.

“The large decrease in earnings a share is owing to a profit of R71-million relating to the sale of the Vlaklaagte mineral asset included in the prior period,” it noted in a trading update.

Wescoal expected to release its results on November 4.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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