https://www.engineeringnews.co.za

Universal over delivers on earnings guidance

17th January 2018

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

Font size: - +

JOHANNESBURG (miningweekly.com) – ASX-listed Universal Coal has achieved record earnings and production for the six months ended December 2017.

The company, which operates coal mines in South Africa’s Mpumalanga province, surpassed its group earnings before interest, taxes, depreciation and amortisation (Ebitda) by 33%, reaching A$30-million during the six-month period under review, from the previous guidance of A$22.5-million.

Group attributable Ebitda for the interim period is A$20.4-million –  46% above the A$14-million guidance.

The 2018 financial year guidance for Ebitda has now been upgraded to A$55-million, and A$37.9-million attributable.

The improvements have been attributed to strong production performance by the Kangala operation, near Delmas, which exceeded projected sales tonnes by some 200 000 t for the half-year period, and the New Clydesdale Colliery, near Kriel, achieving 98% of the projected sales tonnes for the period.

Universal achieved an overall total sales tonnage of 2.34-million tonnes, of which 1.45-million tonnes are attributable, for the six months to December.

It is expected that a total of 4.6-million tonnes of saleable product will be delivered to market in 2018.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Axiom Hydraulics
Axiom Hydraulics

Axiom Hydraulics is a trusted leader in South Africa’s hydraulic industry, delivering world-class components, systems, and engineering expertise...

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.055 1.094s - 140pq - 2rq
Subscribe Now