{"id":7823,"date":"2012-02-09T13:51:05","date_gmt":"2012-02-09T11:51:05","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-1-optimum-coal-h1-profit-down-45-pct-sees-better-h2\/"},"modified":"2012-02-09T13:51:05","modified_gmt":"2012-02-09T11:51:05","slug":"update-1-optimum-coal-h1-profit-down-45-pct-sees-better-h2","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-optimum-coal-h1-profit-down-45-pct-sees-better-h2\/","title":{"rendered":"UPDATE 1-Optimum Coal H1 profit down 45 pct, sees better H2"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* H1 headline EPS 76.04 cts vs 139.22 cts<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* H1 saleable coal output down 16 pct<\/p>\n<p><span><\/span><\/p>\n<p>* Cuts FY export production outlook<\/p>\n<p> (Adds detail)<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Feb 9 (Reuters) &#8211; Optimum Coal,<br \/>\nthe takeover target of top commodity trader Glencore,<br \/>\non Thursday forecast a better second half after strikes at one<br \/>\nof its mines hit output and led to a 45 percent drop in<br \/>\nfirst-half profit.<\/p>\n<p><span><\/span><\/p>\n<p>Optimum said headline earnings per share for the six months<br \/>\nto the end of December were 76.04 cents, compared to 139.22<br \/>\ncents previously. Headline EPS are the main profit gauge in<br \/>\nSouth Africa and strip out certain one-time items.<\/p>\n<p><span><\/span><\/p>\n<p>Optimum said first-half production of saleable coal fell 16<br \/>\npercent to 5.9 million tonnes.<\/p>\n<p><span><\/span><\/p>\n<p>Production of coal destined for exports fell 20 percent to<br \/>\n2.9 million tonnes, while output of coal destined for power<br \/>\nutility Eskom slumped 11 percent to 3 million tonnes.<\/p>\n<p><span><\/span><\/p>\n<p>The company, South Africa&#8217;s sixth largest coal producer, cut<br \/>\nits full-year guidance for export saleable production from<br \/>\nOptimum Collieries to between 4.6-4.8 million tonnes on the back<br \/>\nof the labour disputes.<\/p>\n<p><span><\/span><\/p>\n<p>The company had initially forecast for Optimum Collieries to<br \/>\ndeliver between 5.3-5.5 million tonnes of coal destined for<br \/>\nexports. The revision should impact Optimum&#8217;s previous full-year<br \/>\nguidance of total coal output of around 13.7 million tonnes.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* H1 headline EPS 76.04 cts vs 139.22 cts * H1 saleable coal output down 16 pct * Cuts FY export production outlook (Adds detail) JOHANNESBURG, Feb 9 (Reuters) &#8211; Optimum Coal, the takeover target of top commodity trader Glencore, on Thursday forecast a better second half after strikes at one of its mines hit [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7823","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7823"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7823\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}