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.