Exxaro expects up to 111% increase in interim HEPS
JSE-listed diversified miner Exxaro Resources expects to report a between 99% and 111% year-on-year increase in headline earnings per share (HEPS) for the six months ended June 30, to between R26.32 and R27.92.
That compares with the HEPS of R13.21 posted for the prior comparable six months.
The company attributes the higher earnings this year to an increase in equity-accounted income from the Sishen Iron Ore Company, as well as a lower weighted average number of shares following a share repurchase programme.
Earnings before interest, taxes, depreciation and amortisation are likely to be between R4-billion and R4.5-million, representing a 5% to 17% increase year-on-year.
Exxaro will release its results on or about August 12.
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