https://www.miningweekly.com

Wescoal expects 303% increase in FY18 HEPS

22nd May 2018

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

JSE-listed Wescoal expects its headline earnings per share (HEPS) for the year ended March 31 to be in excess of 45.5c, which is a 303% increase on the HEPS of 11.3c reported for the 2017 financial year.

Earnings per share (EPS) will be in excess of 46.5c, which is a 301% increase compared with EPS of 11.6c for 2017.

Wescoal reported in a trading statement on Tuesday that the significant increase in group profitability was driven by continued strong production from mining operations, as well as from synergies realised from the Keaton Energy acquisition.

The 2017 acquisition of Keaton Energy strengthened Wescoal’s balance sheet and free cash generation and further diversified the asset base, realised economies of scale and synergies, as well as enhanced optionality in contracts and offtake negotiations.

The enlarged business now has coal resources well in excess of 300-million tonnes, four operating mines, three processing plants and significant interests in coal supply chain infrastructure.

The group is now better positioned to meet increased demand, both from State-owned power utility Eskom and other domestic and export customers.

Wescoal is in the process of finalising its results for the financial year.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION