Wescoal reports strong interim results

JSE-listed coal miner, trader and supplier, Wescoal has achieved solid results for the six months ended September 30, with headline earnings a share up 16% year-on-year, at 23.5c. Revenue increased by 28% year-on-year to R2.1-billion, while cash generation increased by 41% to R291-million, which helped to reduce the group’s gearing to a conservative ratio of 18%, compared with 32% in the first half of the prior financial year.