HVL - Highveld Steel and Vanadium Corporation Limi
HVL
HVL
HVL - Highveld Steel and Vanadium Corporation Limited - Trading Statement
Highveld Steel and Vanadium Corporation Limited
Registration no. 1960/001900/06
(Incorporated in the Republic of South Africa)
("Highveld" or the "Corporation")
Share code: HVL
ISIN code: ZAE000003422
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, a listed company must
publish a trading statement as soon as it is satisfied that a reasonable degree
of certainty exists that the financial results for the period to be reported
upon next will differ by at least 20 per cent from that of the previous
corresponding period.
Highveld hereby notifies it is expected that for the six month period ending 30
June 2007, the headline and basic earnings per share will both increase by
between 55 per cent and 65 per cent compared to the first six months of 2006.
The main reasons for the increase in earnings in 2007 are higher steel selling
prices and the weaker Rand. Furnace No. 1 is currently inoperative being
converted to open slag bath technology in accordance with the capital
expenditure programme in the Corporation`s strategic plan. The furnace is
expected to be commissioned during late 2007 or early 2008.
The information in this trading statement has not been reviewed and reported on
by the auditors of the Corporation.
The interim financial results for the six month period ending 30 June 2007 are
expected to be published on or about 3 August 2007.
For and on behalf of the Board
Emalahleni
18 June 2007
Sponsor
JP Morgan Equities Limited
Date: 18/06/2007 11:15:01 Produced by the JSE SENS Department.
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