|
Bisichi PLC - London-based mining company with operations in South Africa - Swings to a pretax loss of £2.1 million in the six months to the end of June from a profit of £5.0 million a year ago. Revenue rises 5.8% to £24.9 million from £23.5 million, but operating costs increase 45% to £26.6 million from £18.4 million. The firm says earnings were impacted by lower production and higher mining costs at Black Wattle, its South African mining operation. It says the lower overall commodity prices achieved by Sisonke coal processing, the firm’s coal processing operation, were offset by improved coal qualities and processing yields. Bisichi declares an unchanged interim dividend of 3p per share. ‘Looking forward into the second half of 2025 and 2026, we remain optimistic about the continued benefits from Black Wattle’s improved coal qualities and the mining areas that we plan to move into. However, we are mindful of the current coal market volatility with lower seaborne coal prices, reflecting a temporary buildup in global coal supply and a slowdown in demand, that have impacted coal revenue in 2025 to date,’ says Executive Chair Andrew Heller. Bisichi says: ‘Looking forward, in order to offset the impact of suppressed coal markets and lower overall coal prices, plans were made to transition to southern sections of our existing mining area in order to benefit from the lower mining costs and improved coal qualities in these areas. The transition to these areas will be implemented by early 2026.’ Current stock price: 95.77 pence, down 1.8% on Friday afternoon in London 12-month change: down 13% Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
