EXXARO: 14,657 +99 (+0.68%)
South Africa's Exxaro H1 profit lifts boosted by coal performance
(Adds detail, dividend)
JOHANNESBURG, Aug 16 (Reuters) - South Africa's Exxaro
Resources Ltd said on Thursday half-year profit rose 8
percent, boosted by a strong performance in its core coal
Diluted headline earnings per share (HEPS) for continuing
and discontinued operations rose to 953 cents per share for the
six-month period ended June 30 2018, from 882 cents in the same
period last year.
HEPS is the main profit gauge in South Africa, which strips
out certain one-off items.
The miner said in April it planned to dispose of its
remaining stake in U.S. titanium products company Tronox
, valued at around $476 million to fund capital
commitments, repay debt and to distribute capital to
Exxaro said net operating profit at its coal segment rose 12
percent to 3.387 billion rand ($234.85 million), which boosted
group net operating profit to 3.1 billion rand, a gain of 7
percent compared to the previous period.
The firm said it expects the outlook for its coal business
to remain stable for the second half of the year on the back of
strong international coal prices and favourable trading
conditions in its domestic market.
Exxaro issued an interim dividend of 530 cents per share
compared with 300 cents per share during the previous period.
($1 = 14.4221 rand)
(Reporting by Tanisha Heiberg
Editing by Joe Brock and David Evans)
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