JOHANNESBURG, Aug 22 (Reuters) – South African miner Exxaro Sources stated on Thursday its half-year earnings surged 42%, as strong earnings from its fairness investments offset decrease EBITDA.
Core headline earnings per share (HEPS) rose to 17.30 rand per share within the six-month interval ended June, from 12.22 rand per share in a year-ago interval.
HEPS is the primary revenue gauge in South Africa and strips out sure one-off objects.
Earnings earlier than curiosity, tax, depreciation and amortization (EBITDA) dived 29% to 2.813 billion rand ($184.55 million) from three.954 billion rand within the earlier 12 months.
The miner stated its EBITDA dropped attributable to decrease income, inflationary strain on prices, larger distribution prices pushed by bigger export volumes and an increase in rehabilitation prices ensuing from revised price estimates.
($1 = 15.2421 rand)
Reporting by Tanisha Heiberg, Modifying by Sherry