Exxaro Resources Ltd.'s profit attributable to shareholders in 2017 rose to 5.98 billion South African rand, or 17.24 rand per share, from 5.68 billion rand, or 15.91 rand per share, a year ago.
The company declared a final dividend of 4.00 rand per share for the year, compared to 4.10 rand per share for 2016. The interim dividend for 2017 stood at 3.00 rand per share.
Exxaro had declared a special dividend of 12.55 rand per share following the sale of part of its stake in Tronox Ltd. The dividend was paid to shareholders March 5.
Revenue in increased to 22.81 billion rand, from 20.9 billion rand in 2016, according to the company's March 6 annual statement.
Net operating profit plummeted to 975 million rand, compared to 4.62 billion rand a year ago, due to a 4.25 billion rand Black Economic Empowerment credentials expense in the year.
The results were helped by an increase in share of income from equity-accounted investments to 3.95 billion rand, from 2.76 billion rand a year ago, and profit from discontinued operations surged to 3.26 billion rand, compared to 111 million rand in 2016.
Exxaro's total thermal and metallurgical coal production, excluding buy-ins, increased to 45 million tonnes in 2017, from 42.8 million tonnes a year ago, mainly due to higher production at the Grootegeluk mine in South Africa.
The year's sales increased to 44.5 million tonnes, from 43.9 million tonnes a year ago, due to strategic stockpiling at Grootegeluk. Production and sales for the year were below expectations.
