Thungela Resources Ltd on Thursday reported its annual earnings were still in line with its previous guidance.
The Rosebank, South Africa-based coal miner expects earnings per share to multiply to between R 125 and R 129 in 2022 from R 61.08 in 2021. Early in December, it projected EPS growth of at least R 125.00.
Headline EPS are guided to rise to between R 130 and R 133, compared to R 66.57. Back in December, estimated HEPS is at around R 131.00.
In its December trading update, the coal producer said the benchmark coal price has averaged $276.57 per tonne for the year to November 30, jumping from $124.11 a tonne last year.
Export saleable production for 2022 is expected to be 12.8 million tonnes, lower than the revised guidance range of between 13.0 million tonnes and 13.6 million tonnes issued in August, and 15% lower than 2021 export saleable production of 15.0 million tonnes, it said at the time.
Thungela also said revised closure cost estimates resulted in a non-cash income statement charge of R 1.1 billion in 2022.
The company expects to release its financial year results on March 27.
Shares in Thungela jumped 4.1% to R 214.44 on Thursday morning in Johannesburg, while they gained 4.1% to 964.00 pence in London.
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