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Exxaro full-year profits up slightly

Companies

Johannesburg - South Africa's Exxaro reported a slight rise in full-year earnings on Thursday, helped by a strong performance in its coal business, and said it expects challenging markets conditions ahead.

Exxaro, South Africa's second-largest coal producer, which also has interests in iron ore and base metals, said headline earnings for the year were 14.63 rand, up 4 percent.

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031110 A new study has found that SA coal reserves have been significantly downsized since 2003.photo by Simphiwe Mbokazi 453

Headline EPS, the main profit gauge in South Africa, strip out certain one-time items.

Coal production was up 3 percent to 38.7 million tonnes while coal exports were at 4.5 million tonnes, up 15 percent.

The company declared a final dividend of 315 cents, bringing total the dividend to 550 cents, a rise of 10 percent. - Reuters

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