JOHANNESBURG (miningweekly.com) – JSE-listed resources group Exxaro on Friday said its headline earnings a share for the year ended December 2012, were likely to between 31% and 40% lower than that of 2011.
It expected to report headline earnings a share of between R12.61 and R14.43.
Exxaro stated that the profit realised on the sale of the mineral sands and Rosh Pinah operations in mid-2012 was expected to result in an increase in attributable earnings, compared with 2011.
However, these sales transactions resulted in these operations effectively contributing to earnings for six and a half months, respectively, in 2012 compared with 12 months in 2011, contributing to the decline in expected headline earnings.
Attributable earnings a share were likely to be between R25.97 and R27.88, representing an increase of between 18% and 27% when compared with 2011.
Exxaro would release its financial results on March 7.