HY Results – Revenue -15% y/y to R18.9bn. EBITDA -28% y/y to R7.7 bn. Net income -28% y/y to R5.91 billion. Coal sales volume declined by 9.4% y/y to 19.1m tons while production fell 7% to 20.2m tons. Transnet challenges to persist. Seeking alternatives. Negative outlook iron ore in H2 on more supply and flat Chinese demand.
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