There has been a 4% increase in Exxaro’s headline earnings to 1 463 cents per share due to the strong performance in its coal business.

The JSE-listed company is South Africa’s second-largest coal producer, and has reported that its coal production is up 3% to 38.7 million tonnes, while coal exports are at 4.5 million tonnes, up 15%. The company declared a final dividend of 315 cents, bringing total the dividend to 550 cents, a rise of 10%.

“Attributable earnings, including Exxaro’s equity-accounted investment in associates, were R6 217 million or 1 751 cents per share, down 36% from 2012 mainly due to non-recurring profits on the sale of discontinued subsidiaries and other non-core assets in 2012,” Exxaro said in a statement.

“Headline earnings, which exclude the impact of the impairment and partial impairment reversal as well as profits realised on the sale of discontinued subsidiaries and other non-core assets, were R5 194 million or 1 463 cents per share, representing a 4% increase on 2012 headline earnings per share. This was mainly due to the 32% increase in the coal business net operating profit.”