S.Africa's Exxaro half-year profit up 26% on higher prices

South Africa's Exxaro Resources on Thursday reported a 26% increase in half-year profit, driven by higher coal prices.

Exxaro said its headline earnings per share - the main profit measure for South African companies - was 34.26 rand ($2.05) in the six months to June 30, compared with the 27.22 rand recorded during the same period last year. The company realised a higher average export price of $262 per tonne during the first half, compared to $117 a tonne previously, amid surging demand for coal, especially in Europe.

Exxaro declared an interim dividend of 15.93 rand, lower than 20.77 rand for the first half of 2021. ($1 = 16.6768 rand)