HLM
HLM
HLM - Hulamin - Trading Statement
HULAMIN LIMITED
Incorporated in the Republic of South Africa)
Registration number 1940/013924/06
ISIN: ZAE000096210
JSE Code: HLM
("Hulamin" or "the company")
TRADING STATEMENT
Hulamin advises that operating profit for the half year ending 30 June 2008 is
expected to be between R261 million and R280 million, an increase of between 53%
and 64% over the operating profit (before corporate structuring costs) for the
corresponding period in 2007. Earnings and headline earnings are expected to be
in the range of R174 million to R188 million (81 cents per share to 87 cents per
share).
In the first half of 2007 Hulamin incurred a headline loss of R70,3 million (33
cents per share). The loss was largely a consequence of corporate structuring
costs amounting to R157 million after tax (73 cents per share) which were
associated with the unbundling and listing of Hulamin together with the
introduction of a 15% black shareholding. Excluding the structuring costs, the
adjusted headline earnings for the first half amounted to R87 million (40 cents
per share).
In the half-year to June 2008, both Hulamin Rolled Products and Hulamin
Extrusions performed better due to improved margins and increased local sales
volumes. Rolled Products improved its mix of higher value products. The business
also benefited from the reduction in the corporate tax rate and the weaker
currency while costs have come under pressure as a result of increases in energy
costs, magnesium and packaging materials.
The company expects to announce its interim results for the six months to 30
June 2008 on or about 22 July 2008.
The forecast financial information on which this trading statement is based has
not been reviewed and reported on by the company`s auditors.
Pietermaritzburg
10 June 2008
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 10/06/2008 14:47:01 Produced by the JSE SENS Department.
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