COMMENTARY

Salient features

  • Core net operating profit of R1 187 million (2012: R2 609 million)
  • Headline earnings per share (HEPS) of 712 cents (R2012: 1 162 cents)
  • Interim dividend of 235 cents per share (2012: 350 cents)

Challenges

  • Lost time injury frequency rate (LTIFR) at 0,21 against target of 0,15
  • Three-week industrial action in first quarter of 2013, causing coal production losses of 2,2Mt
  • New Clydesdale Colliery (NCC) pre-tax impairment of R292 million

Comparability of results

The following comments are based on a comparison of the group’s condensed reviewed interim financial results and unreviewed production and sales volumes information for the six-month periods ended 30 June 2013 and 2012 respectively. These results are not comparable due to (amongst others):

  • the pre-tax impairment charges on the NCC carrying value of property, plant and equipment of R292 million recorded in the six-month period ended
    30 June 2013;
  • the partial impairment reversal of the carrying value of property, plant and equipment at KZN Sands of R103 million in 2012;
  • profits realised on the sale of the mineral sands operations amounting to
    R3 537 million and Rosh Pinah operations amounting to R544 million as well as other assets amounting to R40 million during 2012; and
  • the loss recognised on the dilution of the investment in the Tronox Limited (Tronox) associate, amounting to R13 million as a result of a decrease in the effective shareholding to 44,42% (2012: 44,65%).

Continue reading


QUICK FINANCIAL LINKS

Condensed group statement of comprehensive income
Reconciliation of group headline earnings
Condensed group statement of financial position
Condensed group statement of cash flows
Group statement of changes in equity
Notes to the reviewed condensed group interim financial results

Download booklet (749)   Excel downloads

 

 

OVERVIEW

 

  Exarro Website  
© Exxaro 2013
 
Powered by Overend Outsource
Back to top