PAM - Palabora Mining Company Limited - Trading Update
PAM
PAM
PAM - Palabora Mining Company Limited - Trading Update
PALABORA MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
Registration number - 1956/002134/06
JSE Code: PAM ISIN: ZAE000005245
("Palabora" or "the Company")
TRADING UPDATE
As required by the Listings Requirements of the JSE Limited, shareholders are
advised that Palabora`s earnings for the six months ended 30 June 2010 are
expected to be as follows:
* Earnings before interest, tax, depreciation and amortisation (EBITDA)
between R655 million (1 354 cents per share) and R675 million (1 396
cents per share);
* Basic earnings between R300 million (620 cents per share) and R309
million (639 cents per share);
* Headline earnings between R298 million (616 cents per share) and R307
million (635 cents per share);
* Cash and cash equivalents between R1 069 million and R1 102 million;
and
* Net cash between R966 million and R996 million.
The above guidance compares with EBITDA of R585 million (1 210 cents per share)
and basic and headline earnings of R141 million (291 cents per share) for the
prior comparable period. Dividend income from available for sale reclassified in
terms of IAS 8 resulted in an increase in EBITDA from the previously reported
R565 million (30 June 2009) to R585 million for the period ended 30 June 2009.
EBITDA is operating income excluding finance costs, foreign exchange gains and
losses, income tax expenses and depreciation and amortisation.
Cash and cash equivalents were R1 395 million and net cash R1 292 million at 31
December 2009.
Shareholders are advised that the information contained in this Trading Update
has not been reviewed and/or reported on by the external auditors of the
Company. It is anticipated that the results for the six months ended 30 June
2010 will be published on or about 10 August 2010.
Phalaborwa
22 July 2010
Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 22/07/2010 13:14:01 Produced by the JSE SENS Department.
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