Annual Report

For the year ended 31 December 2019, I am pleased to report that your company achieved earnings before interest, tax, depreciation and amortisation (EBITDA) of £5.9million (2018: £8.6 million) and operating profit before depreciation, fair value adjustments and exchange movements (Adjusted EBITDA) of £7.4million (2018: £9.1million). These results can be attributed mainly to the strong performance from our South African mining and processing operations. Consistent production from Black Wattle Colliery, our South African coal mining operation, and strong demand for our coal, particularly in the domestic market, impacted positively on the overall results for the Group during the year. Further details on the Group’s performance during the financial year can be found within the Mining Review and Financial & Performance Review sections of this report.

Company Overview

Bisichi PLC is a fully listed company and its principal activity is coal mining in South Africa. The group is a controlling shareholder in Black Wattle Colliery, a coal mining and coal washing operation situated in Mpumulanga, South Africa. The groups' strategy is to create and deliver long term sustainable value to its stake holders through the acquisition and investment in new mining operations in South Africa as well as through the development of its existing operations. In addition to its mining activities, the group seeks to balance the high risk of mining with a dependable cash flow and capital appreciation from its UK property investment operations. The group invests in retail property across the UK and owns a portfolio of retail property currently worth some £14m. 

Sir Michael Heller, Chairman. Andrew Heller, Managing Director.ANTI-SLAVERY & HUMAN TRAFFICKING STATEMENT