Double-listed high-quality coal producer Buffalo Coal has swung back to profit for the first three months of 2017, boosted by improving demand for its anthracite and bituminous coal.
The Johannesburg-based junior public company, with listings on the TSX-V and the JSE’s AltX exchanges and reports in South African rands, recorded headline profit for the period of R0.01 a share, compared with a loss of R0.04 a year earlier. The net profit for the quarter ended March was R4.2-million, compared with a net loss of R12.1-million for the comparable quarter in 2016.
