Thungela expects strong first-half earnings due to coal prices

Thungela said it expects to post headline earnings per share of between R66.85 and R67.45 for the six months to June 30, compared to R3.05 last year.
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Thungela Resources expects a significant rise in half-year profit due to soaring coal prices, it said on Monday, but flagged rising costs amid inflationary pressures.

Thungela said it expects to post headline earnings per share (HEPS) – the main profit measure in South Africa – of between R66.85 ($4.03) and R67.45 for the six months to June 30, compared to R3.05 last year.

The company said while it had benefited from high coal prices, rising energy costs and inflationary pressures had raised its operating costs.

The coal exporter, which was spun off from Anglo American Plc last year and listed separately, is expected to release its half-year results on August 15.

Anglo American sold off its residual shareholding in Thungela in March.

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