Exxaro expects to report higher H1 earnings

8th August 2018 By: Anine Kilian - Contributing Editor Online

Diversified miner Exxaro Resources expects to report a 41% to 54% year-on-year increase in attributable earnings per share (AEPS) for the six months ended June 30.

The company on Wednesday said its AEPS are likelty  to be between R12.05 and R13.15, compared with the R8.52 reported for the six months to June 30, 2017.

Headline earnings per share (HEPS) for the six-month period are expected to be

between R11.60 and R12.70 a share, an increase of between 32% and 44%, compared with HEPS of R8.82 in the prior comparable period.

While the coal business benefited from higher selling prices and volumes, the increases in AEPS and HEPS are mainly as a result of the movement in the number of shares as a result of the implementation of the replacement black economic empowerment (BEE) transaction during 2017, resulting in the BEE shares being treated as treasury shares and, therefore, excluded from the weighted average number of shares.

Exxaro will release its results on August 16.