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Thu 29 Jul 2010
Close: 245c 
Day's move: 1c (0.41%)
Volume: 291 448
Trades: 70
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Revenue decreased by 27% to R2 179 million (2009: R2 990 million). Operating profit down 73% to R129 million (2009: R480 million). Income attributable to shareholders dropped by 17.10 % to R231 043 million (2009: R278 531 million). While headline and diluted headline earnings per share fell to 0.6cps (2009: 68.8cps), and basic earnings per share was lower by 27% to 55.8 cents (2009: 76.4 cents). The company has managed to decrease its operational its gearing level from 75% to 43%. Despite the extraordinary external challenges, including abnormally high rainfall during the second half of the financial year, the Group successfully recapitalised its balance sheet reducing group debt from R1.7 billion to R1.1 billion enabling it to terminate Megacube's loss making opencast mining contracts and restructure that business unit.
Dividend
No dividend has been declared.
Outlook
In addition to the turnaround of Megacube from a substantial loss to marginal profitability, the company is seeing generally favourable trading conditions in all the areas in which it operates including a buoyant ferrochrome and anthracite markets and increased exploration.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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