* FY headline EPS up 35 pct to 21.7 cts
* FY revenue up 5 pct to 2.51 bln rand
* Shares up 7 pct
(Adds details, shares)
JOHANNESBURG, June 14 (Reuters) – South African mining
contractor Sentula Mining on Thursday reported a 35
percent rise in full-year profit and said the outlook for the
current financial year remained robust given its exposure to the
more resilient coal industry.
Shares in the company, down more than 5 percent so far this
year, jumped 7 percent by 0718 GMT, compared with a 0.39 percent
fall in the JSE All-Share index.
Sentula said full-year headline earnings per share, the main
profit gauge in South Africa that strips out certain one-time
items, rose to 21.7 cents from 16.1 cents a year earlier.
Revenue rose 5 percent to 2.51 billion rand ($300 million).
Chief executive Robin Berry said demand from coal mines was
strong after logistics group Transnet increased capacity on the
rail lines connecting collieries with the coastal export
terminal. Consistent demand for coal from state-owned power
utility Eskom also helped, he said..
“The outlook for deployment of equipment in the coal
industry is still quite buoyant for this financial year,” he
told Reuters. “The coal industry is a lot more stable and a lot
more defensive (than other commodities).”
The company reported a basic loss per share of 88.9 cents
due to a 591 million rand impairment charge from equipment held
for resale at its discontinued Megacube opencast operation.
Continued…
