Sentula FY profit jumps, sees better margins ahead

South African mining contractor Sentula Mmaking plaster of paris from gypsumining on Wednesday reported a jump in full-year earnings and said it also sees better margins in its current financial year. Sentula reported full-year headline earnings per share of 16.06 cents, compared with 0.6 cents the previous year, boosted by its Megacube Mining unit returning to operational profitability in the second half of the financial year.

Headline EPS is the main profit gauge in South Africa and strips out certain one-time items. "The diverse nature of the Group's earnings should continue to ensure that the underlying fundamentals support the Group's revenue base, should further volatility in global resource markets be experienced," Chief Executive Office Robin Berry said in a statement. Revenue in the year rose 10 percent to 2.4 billion rand ($354.6 million). Sentula has said margins are expected to improve in the current financial year as contracts are renegotiated based on an improving demand for mining services...