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Thu 29 Jul 2010
Close: 12 338c 
Day's move: 38c (0.31%)
Volume: 647 752
Trades: 1 224
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Revenue increased from R13.8 billion to R15.0 billion in 2009.Net operating profit decreased to R304 million (2008:R2.4 billion). Profit attributable to ordinary shareholders decreased to R1.0 billion (R3.4 billion). Headline earnings on a per share basis decreased to 729cps (1 058cps).
Dividends per share
A final dividend of 100 cps was declared for the period under review.
Prospects
The group expects the global demand for coal to increase with the demand for local power station coal anticipated to remain strong. The domestic demand for steam and metallurgical coal is however expected to be firmer but still to remain subdued in 2010. Coal exports may be affected by the availability of rail and port allocation at RBCT. For the mineral sands commodities, higher production and sales volumes are anticipated at prices which, although still under pressure, are showing signs of recovery. The base metals business is expected to remain under pressure in 2010 as a global zinc oversupply may result in downward pressure on zinc prices in the second half of 2010, while local demand is anticipated to remain stable. Based on current market expectations on iron ore price increases anticipated with effect from 1 April 2010 and coupled with strong demand, the equity accounted contribution from SIOC may have a positive impact on Exxaro's earnings. The introduction of the payment of royalties with effect from 1 March 2010 will have a negative impact on the group's operating results, most notably for the coal business. The group will continue with its focus on capital prioritisation and working capital management together with rigorous cost control.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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