R2.4bn in interim earnings expected

JSE-listed Exxaro Resources said on Friday it expects to generate between R2.4 billion and R2.8bn in earnings for the six-month period ended June 30, 2017. The South African coal and heavy minerals mining company said the windfall was mainly due to higher net operating profit contribution from the coal business as well as higher equity-accounted income from investments. Attributable earnings per share are therefore expected to be between 775 cents per share and 912 cents per share, compared to the 362 cents per share reported for the six-month period ended June 30, 2016. Headline earnings per share are expected to be between 795 cents per share and 925 cents per share, compared to 309 cents per share reported for the six-month period ended June 30, 2016. Exxaro will release its reviewed financial results for the six-month period ended June 30 next week. –ANA