Weak coal price and poor rail performance weigh on Thungela
The board has approved a share buyback programme of up to R160m set to be implemented in the second half
19 August 2024 - 11:00
Poor rail performance and a reversal of record coal prices seen in 2022 and early 2023 continued to weigh on Thungela’s financial performance in the first half of 2024.
With headline earnings per share (HEPS) down about 58% to R9.52 for the six months ended June due to a softening of coal prices, the coal miner has slashed its interim dividend by 80% and will pay out R2 per share, compared with R10 in the previous comparative period...
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