Headline earnings per share (HEPS) of between 25.7 cents and 28.8 cents (12 months to 31 March 2015: 15.4 cps), being an increase of between 67% and 87%.
Earnings per share (EPS) of between 25.9 cents and 29.0 cents (12 months to 31 March 2015: 15.7 cps), being an increase of between 65% and 85%.
The increases in HEPS and EPS are primarily attributed to cost saving and productivity initiatives as well as the successful operationalisation of the Elandspruit project. Producing consistently at target production rate of 165kt Run of Mine (“ROM”) per month, Elandspruit has met expectations and is delivering on its promise.
The financial information on which this trading update is based has not been reviewed or reported on by the company`s auditors.
The company`s results for the 12 months ended 31 March 2016 will be published on SENS on 2nd June 2016. Shareholders and investors will be invited to attend a presentation and dial-in details of a webcast will be circulated nearer to the date. For further information and details please contact Jacques de Bie on JdeBie@Singular.co.za or 082 691 5384 and see the company website: www.wescoal.com.
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