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TSX
TSX
TSX - Trans Hex Group Limited - 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 Group")
TRADING STATEMENT
Trans Hex is currently finalising its results for the year ended 31
March 2010 ("the period"), which will be released on SENS on or about
31 May 2010.
The profit for the period is expected to be R22 million compared to a
loss of R798 million for the previous comparable reporting period.
The Group is expecting to report earnings per share for continuing
operations of 23,8 cents (2009: loss of 719,4 cents) and headline
earnings per share of 22,1 cents (2009: headline loss of 585,1 cents).
The financial information on which this trading statement is based has
not been reviewed and reported on by the Group`s auditors.
COMMENTS
The following salient points will be fully reported upon, when the
Group releases its results for the period:
- During the period, prices have improved significantly and demand for
Trans Hex production has remained strong compared to a difficult 2009
financial year when demand and prices for rough diamond production fell
significantly due to the global financial crisis.
- Stringent cost management resulted in substantial reductions in cash
operating costs against the previous comparative period.
- Net cash generated was R40 million (2009: R11 million generated)
resulting in the Group`s net cash position increasing to R246 million
(2009: R205 million). The cash balance at end of year would have been
R307 million if the 10% lots of diamonds tied up at the State Diamond
Trader, valued at R61 million had been sold during the current
financial year.
Cape Town
25 May 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Namibian Sponsor
IJG CORPORATE FINANCE (PTY) LTD
Date: 25/05/2010 07:05:06 Produced by the JSE SENS Department.
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