Petmin weathers coal price downturn

September 5, 2016

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Despite market conditions remaining “extremely tough” for coal mining companies, JSE-listed Petmin delivered fairly strong results for the year ended June 30. The miner reported headline earnings of 23.66c apiece, only slightly down from the prior year’s 24.28c apiece. It also maintained a healthy balance sheet, with cash on hand of R174-million, and a gearing level of about 7.6%.

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