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Thungela Resources Ltd on Friday predicted a half-year profit slump on restructuring expenses as two assets reach the end of their production, as well as a tough market backdrop. For the six months ended June 30, the exporter of thermal coal from South Africa expects to report earnings per share between R 1.40 to R 2.10, down up to 85% from R 9.52 a year prior. In the first half of 2024, Thungela achieved pretax profit of R 1.77 billion, around £74.4 million, on revenue of R 16.75 billion. Thungela said: ‘Earnings attributable to the shareholders of the group have been impacted by the ongoing challenging market conditions, as well as restructuring costs of R 285 million recognised relating to costs to be incurred as the Goedehoop and Isibonelo operations reach the end of their lives in 2025.’ Goedehoop and Isibonelo are located in Mpumalanga, South Africa. Shares in Thungela were down 8.5% to 372.00 pence in London on Friday morning. In Johannesburg, they were down 9.0% to R 87.80. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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