MTX
MEMTX
MTX - Metorex Limited - Trading Update
METOREX LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1934/005478/06)
JSE code: MTX
ISIN: ZAE000022745
Issuer code: MEMTX
(`the company`)
TRADING UPDATE
Shareholders are advised that management`s expectation for the company`s
earnings for the year ended 30 June 2008 compared with those of the prior year,
are set out below:
- EBITDA from continuing operations between R950 million and R1.1 billion (30
June 2007 - R591 million).
- EBITDA between R1.1 billion and R1.25 billion (30 June 2007 - R918
million).
- EBITDA from continuing operations excludes an accounting profit on the
reverse acquisition of Pan African Resources plc of R157 million, and the
comparative figure to 30 June 2007 excludes an accounting and operating
profit of R328 million relating to the Wakefield Coal Group disposal in
June 2007.
- Basic earnings between 146 cps and 173 cps (30 June 2007 - 183.5 cps).
- Headline earnings between 120 cps and 144 cps (30 June 2007 - 110.5 cps).
- Weighted average number of shares in issue increased by 15% to 348 million
from 303 million.
The 15% increase in the number of shares in issue mainly relates to the
acquisition of Copper Resources Corporation, a current development project,
profits from which will only commence on commissioning of the Kinsenda Mine.
The financial information for the year ended 30 June 2008 has not been reviewed
or reported on by the Company`s auditors. It is anticipated that the results for
the year ended 30 June 2008 will be published on 21 August 2008.
Johannesburg
4 August 2008
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Public relations adviser:
College Hill
011 447 3030
Date: 04/08/2008 09:53:01 Produced by the JSE SENS Department.
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