South Africa's Exxaro interim earnings rise on higher sales

The logo of South African coal miner Exxaro is seen outside the company's Pretoria headquarters, South Africa April 19, 2016. REUTERS/Mike Hutchings·Reuters· (Reuters)

(Reuters) - South African diversified miner Exxaro Resources posts a slight increase in earnings, with higher sales offsetting production losses from mine closures, the company said on Thursday. * Diluted headline earnings per share for continuingoperations for the six months ended June 30 rose 1.5 percent to341 cents from 336 cents in the same period last year, in linewith what company previously flagged. * Profit boosted by inclusion of Exxaro Coal CentralProprietary Limited increased sales volumes offsettingproduction loss from closure of Inyanda and Arnot mines. * Exxaro previously closed several mines including Arnot,which supplied coal exclusively to South African power utilityEskom, in order to cope with a slump in commodityprices.[nL8N19K3PS] * Six-month revenue at 9.762 billion rand versus 8.324billion rand due to higher sales volumes from coal operations. * Exxaro sees improvement in coal business’ performance insecond half due to stable trading conditions in domesticmarkets, positive impact from inclusion of ECC in portfolio, andimproving thermal coal price outlook. * Interim dividend of 90 cents per share, up 38 percent. (Reporting by Tanisha Heiberg; Editing by Ed Stoddard)

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