Thungela flags profit drop on weaker coal prices and rail issues
Transnet needs to improve its performance if the coal miner is to reach the upper end of its 2023 full-year guidance
12 June 2023 - 12:26
Thungela Resources, the coal miner spun off from Anglo American, has warned that its profit will drop by close to two-thirds when it releases its interim results in August because of weaker coal prices, lower output and persistent freight rail problems.
The company, valued at R19.7bn on the JSE, said in a trading statement for its six months to end-June that headline earnings per share (HEPS), a common profit measure in SA that excludes certain items, will decline 65.8%-74.7% year on year to R17-R23...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.