HLM - Hulamin Limited - Voluntary Trading Statement - for the half year ended 30
HLM
HLM
HLM - Hulamin Limited - Voluntary Trading Statement - for the half year ended 30
June 2010
HULAMIN LIMITED
(Registration number 1940/013924/06)
(Incorporated in the Republic of South Africa)
Share Code: HLM
ISIN: ZAE000096210
("Hulamin" or "the company")
VOLUNTARY TRADING STATEMENT - FOR THE HALF YEAR ENDED 30 JUNE 2010
Operating profit for the half-year ended June 2010 is expected to be between R97
million and R105 million, slightly lower than the corresponding period in 2009
(R114 million). Earnings and headline earnings are expected to be between R24
million (10 cents per share) and R28 million (11 cents per share), in line with
the corresponding period (R25 million - 10 cents per share).
Production volumes in Hulamin Rolled Products improved by 32% to 184 000 tons
(annualised), and the product mix also improved. These improvements were offset
by the Rand strengthening against the US Dollar from R9.23 in the first half of
2009 to R7.54 in the current period. In addition, the Transnet strike in May has
delayed the invoicing of approximately 6000 tons, impacting both profit and
working capital. Costs have also increased, mainly energy and employment
inflation and project start-up.
The above information has not been reviewed or reported on by the company`s
auditors.
The financial results for the six months ended 30 June 2010 are expected to be
released on SENS on the 26 July 2010.
Pietermaritzburg
16 July 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 16/07/2010 11:33:01 Produced by the JSE SENS Department.
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