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Condensed consolidated results for the period ended 30 September 2019
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 six months ended 30 September 2019
"Wescoal's aim is to be a long-term leading provider of reliable energy source.
Strategic focus is currently on stability, sustainability and scalability.
Our key strategic objective is to stabilise our operations, then optimise our
performance and scale-up through primarily organic opportunities. We intend
to reach this objective by prudently managing costs and operational
efficiencies to maximise returns from our current operations, and grow the
business by exploiting the resources within our portfolio of assets with a
disciplined approach."
Reginald Demana Chief executive officer
http://www.wescoal.com
- Revenue decreased by 0.05% to R2.063 billion (HY19: R2.064 billion)
- Secured long-term debt funding of R1.1 billion
- HEPS decreased by 151% to -11.9 cents per share (HY19: 23.5 cents per share)
- EPS decreased by 147% to -11.8 cents per share (HY19: 25.2 cents per share)
- Gross profit decreased by 29% to R195.4 million (HY19: R275.7 million)
- Operating profit decreased by 93% to R14.7 million (HY19: R197.2 million)
- Cash generation decreased by 57% to R125.6 million (HY19: R291.1 million)
- No dividend declared for the period (HY19: 8.10 cents per share)
- Net asset value per share decreased by 10% to 226 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 (http://www.wescoal.com) and is available on
the JSE's website at:
https://senspdf.jse.co.za/documents/2019/jse/isse/WSL/ie2019.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 the full announcement published on the JSE's website and on
the company's website.
Woodmead
26 November 2019
Sponsor:
Nedbank Corporate and Investment Banking
Date: 26-11-2019 07:05:00
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