March 8, 2018 / 5:36 AM / 3 months ago

South Africa's Exxaro full-year profit falls 65 percent

JOHANNESBURG, March 08 (Reuters) - South African miner Exxaro Resources Ltd reported on Thursday a 65 percent drop in full-year profit, weighed down by costs related to an investment vehicle that is used to increase black shareholding.

Diluted headline earnings per share (HEPS) from continued and discontinued operations fell to 450 cents for the year ended December 2017, from the re-presented figure of 1,294 cents in the previous year, in line with the company’s estimate.

HEPS is the main profit gauge in South Africa and strips out certain one-off items. (Reporting by Tanisha Heiberg; Editing by Amrutha Gayathri)

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