TSX
TSX
TSX - Trans Hex - Trading Statement
TRANS HEX GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number (1963/007579/06)
Share code: TSX
ISIN: ZAE000018552
("Trans Hex" or "the Company" or "the Group")
TRADING STATEMENT
Trans Hex is currently finalising its results for the six months ended 30
September 2009 ("the period"), which should be released on SENS on 10 November
2009.
The profit for the period is expected to be R9 million compared to a loss of
R64 million for the previous corresponding reporting period.
The Group is expecting to report earnings per share for continuing operations
of 9,7 cents (Sep 2008: loss of 53,0 cents) and headline earnings per share of
9,1 cents (Sep 2008: headline loss of 52,0 cents).
The financial information on which this trading statement is based has not
been reviewed and reported on by the Company`s auditors.
COMMENTS
The following salient points will be fully reported upon, when the Group
releases its results:
- following the drop in diamond prices and demand during the previous
financial year due to the global economic crisis, prices for Trans Hex
production have since strengthened, and all available production has been
sold;
- stringent cost management has resulted in substantial reductions in cash
operating costs against the previous comparative period;
- effective cash generation by the Group`s operations has resulted in net cash
flow increasing from a net outflow of R97 million to a net inflow of R42
million;
- the Group had a net cash position at the end of the period of R247 million
(Sep 2008: R97 million).
Cape Town
2 November 2009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Namibian Sponsor
IJG CORPORATE FINANCE (PTY) LTD
Date: 02/11/2009 16:57:02 Produced by the JSE SENS Department.
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