https://www.miningweekly.com

Wescoal FY17 performance hit by nonrecurring costs, BEE share dilution

19th June 2017

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

Font size: - +

JOHANNESBURG (miningweekly.com) – JSE-listed Wescoal expects to deliver double-digit decreases in reported headline earnings per share (HEPS) and earnings per share (EPS) for the year ended March 31.

The company’s reported HEPS is anticipated to fall by 54% to 62% to between 10.4c and 12.4c apiece for the year under review, compared with the HEPS of 27.1c achieved in the prior year.

Similarly, the reported EPS is anticipated to be between 10.7c and 12.8c a share for the 12 months to March 31, a decline of 51% to 59% from the 26.2c reported in 2016.

However, excluding the impact of nonrecurring costs and black economic empowerment (BEE) share dilution, HEPS and EPS are expected to increase to between 49.1c and 59.2c.

The noncash, nonrecurring cost BEE-related discount impact of 32c a share, the dilution impact of the BEE transaction’s increase in the number of issued shares at 7c apiece and the one-off Keaton acquisition transaction costs of 3c a share had offset Wescoal’s significant increase in profitability owing to strong production from the flagship Elandspruit mine in steady-state production.

Wescoal planned to publish its financial results on June 28.

Edited by Creamer Media Reporter

Comments

The functionality 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