JOHANNESBURG (miningweekly.com) – JSE-listed miner Wescoal expects to report higher headline earnings and increased production for the six months to September 30.
Headline earnings per share for the first half of the year were expected to rise more than 20% on the prior corresponding period last year.
However, owing to the inclusion of a R71-million profit from the sale of the Vlaklaagte mineral asset in the first half of 2013, earnings a share for the six months under review were expected to plunge more than 50%.
For the period under review, Wescoal reported output of 942 291 t of coal – a 5% rise on the 895 185 t produced in the prior corresponding six-month period.
The group’s trading division sold 625 949 t during the first half of this year, representing a 187% jump compared with the 217 831 t delivered in the first six months of 2013.
Wescoal said it would publish another trading statement once more certainty on the financial results for the six months ended September had been obtained.
Wescoal planned to release it financial results for the half year on November 4.