ANNUAL RESULTS
HCI coal unit likely to fuel listing talk
Results show the coal mining segment generating revenue of over R1.2bn and more than doubling profit before tax
Empowerment conglomerate Hosken Consolidated Investments (HCI) continues to build a head of steam in its coal division, a development that is likely to fuel speculation of a separate listing for the mining business on the JSE. Results for the year end to march released on Wednesday showed the coal mining segment generating revenue of over R1.2bn and more than doubling profit before tax to R362m. The group’s coal mining interests and its property division are the two significant unlisted components of HCI’s investment portfolio. The group’s main investment is in listed gaming and leisure group Tsogo Sun, with the bulk of the remaining investments in listed counters like e-broadcast group eMedia Holdings, industrial group Deneb, investment firm Niveus as well as recently listed transport group Hosken Passenger Logistics and Rail. HCI’s profitable progress in the coal division is bound to spark speculation around a possible JSE listing for the coal division, although market watchers ha...
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