Salungano to post headline loss in delayed financial results announcement

Coal mining group Salungano expects to report a headline loss per share of between 110 cents and 114 cents when it releases its financial results for the year ended 31 March 2024 on Tuesday (7 October).

This reflects an increase in loss of between 88% and 94% compared to the same period in the previous financial year (2023) when it posted a headline loss per share of 58.65 cents.

Meanwhile it expects an improvement of between 78% and 80% on the loss per share of 168.52 cents posted in the year ended 31 March 2023. This means that the loss per share announced on Tuesday will be between 33 and 37 cents.

Among the reasons for the delay in the release of the Salungano Group’s 2024 as well as 2025 financial year results, is a change in auditors.

Photo credit: https://creativecommons.org/publicdomain/zero/1.0/