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JOHANNESBURG - South African coal mining company Thungela Resources Limited (JSE:TGA) (LSE:TGA) announced Thursday that its earnings for the first half of 2025 are expected to decline by up to 85% compared to the same period last year.
The company forecasts earnings per share (EPS) and headline earnings per share (HEPS) to be between R1.40 and R2.10 for the six months ended June 30, down from R9.52 reported in the first half of 2024.
Earnings attributable to shareholders are projected to range between R180 million and R280 million for the period, according to the trading statement.
Thungela cited "ongoing challenging market conditions" as a primary factor affecting its financial performance. The company also revealed it had recognized restructuring costs of R285 million related to the planned closure of its Goedehoop and Isibonelo operations, which are reaching the end of their operational lives in 2025.
The calculations are based on a weighted average of 131,790,424 shares for the current period, compared to 135,382,283 shares for the prior period.
Thungela plans to release its complete financial results for the first half of 2025 on August 18, accompanied by an investor webinar and conference call.
The trading statement was issued in accordance with JSE Listings Requirements and has not been reviewed by the company’s independent external auditor.
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