WESCOAL IS ON THE MOVE

Cape Times - - NEWS - | Di­neo Faku

JU­NIOR coal pro­ducer Wescoal shares jumped 1.04 per­cent on the JSE yes­ter­day to trade at R1.94 a share on re­ports that it was ex­pect­ing higher earn­ings in the half-year to Septem­ber 2018, fol­low­ing ac­qui­si­tions that had en­hanced its port­fo­lio. It ex­pects an im­prove­ment of be­tween 3.5 and 23.3 per­cent in head­line earn­ings to be­tween 20.9 and 24.9 cents in the six months to Septem­ber 2018 from 20.2c a year ear­lier. Earn­ings a share are ex­pected to in­crease by be­tween 2.2 and 17.8 per­cent to be­tween 23 and 26.5c a share in Septem­ber 2018 from 22.5 per­cent last year. “The in­crease in group prof­itabil­ity was driven by good per­for­mance from the trad­ing di­vi­sion and syn­er­gies re­alised from the ac­qui­si­tion of Keaton En­ergy Hold­ings,” the group said. The group also said that it was con­fi­dent it was now bet­ter po­si­tioned to meet in­creased de­mand, both from Eskom and other cus­tomers fol­low­ing sev­eral ac­qui­si­tions from Keaton En­ergy. “The in­crease in group prof­itabil­ity was driven by good per­for­mance from the trad­ing di­vi­sion and syn­er­gies re­alised from the ac­qui­si­tion of Keaton En­ergy Hold­ings,” the group said.

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