JOHANNESBURG (miningweekly.com) – JSE-listed Wescoal expects to report a 67% to 87% increase in headline earnings per share (HEPS) to between 25.7c and 28.8c for the year ended March 31.
The company had reported HEPS of 15.4c in the previous financial year.
Earnings per share (EPS) were expected to be 65% to 85% higher at between 25.9c and 29c, compared with EPS of 15.7c in the previous year.
The increases in HEPS and EPS were primarily attributed to cost saving and productivity initiatives, as well as the successful operationalisation of the Elandspruit project, which was producing consistently at 165 000 t/m of run-of-mine.
The company would publish its results on June 2.