WESCOAL HOLDINGS LIMITED - Condensed consolidated results for the financial year ended 31 March 2020

Condensed consolidated results for the financial year ended 31 March 2020

Wescoal Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 2005/006913/06) 
Share code: WSL
ISIN: ZAE000069639
("Wescoal" or "the company")

Condensed consolidated results for the financial year ended 31 March 2020

"The year has been challenging for Wescoal, but we have also been relatively 
successful in achieving some of the corporate objectives that were laid out 
last year. The strategy and core ideology of stability, scalability and 
sustainability has been well established, and it lays a foundation upon which 
we intend to return the company to profitability and to grow operationally in 
the year ahead." Reginald Demana Chief executive officer

http://www.wescoal.com

- Revenue decreased by 4% to R3.810 billion (FY19: R3.965 billion)
- HEPS decreased by 287% to -32.67 cents per share (FY19:17.50 cents per share)
- EPS decreased by 262% to -32.57 cents per share (FY19: 20.16 cents per share)
- Gross profit decreased by 28% to R332.8 million (FY19: R461.6 million)
- Operating profit decreased by 101% to -R2.5 million (FY19: R224.0 million)
- Cash generation decreased by 60% to R183.3 million (FY19: R462.2 million)
- No dividend declared for the period (FY19: 8.10 cents per share)
- Net asset value per share decreased by 15% to 215 cents per share
(FY19: 252 cents per share)

This short form announcement is the responsibility of the directors and is only 
a summary of the information contained in the full announcement which can be 
found on the company's website at http://www.wescoal.com and is available on the JSE's 
website at: https://senspdf.jse.co.za/documents/2020/jse/isse/WSL/ye2020.pdf.

Copies of the full announcement are available on request by emailing Izak van 
der Walt at izak@wescoal.com. Any investment decisions should be based on 
consideration of the full announcement published on the JSE's website and on 
the company's website, as a whole.

These annual results for the year ended 31 March 2020 have been audited by the 
company's auditor, PricewaterhouseCoopers, who expressed an unmodified audit 
opinion thereon. The audit opinion also includes communication of key audit 
matters. The audit opinion is available, along with the annual financial 
statements, and the summary financial results, on the company's website at: 
http://www.wescoal.com.

Woodmead
21 July 2020

Sponsor:
Nedbank Corporate and Investment Banking

Date: 21-07-2020 07:05:00
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