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EXX
EXX
EXX - Exxaro - Trading statement for the six months ended 30 June 2010
EXXARO RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 2000/011076/06
Share Code: EXX
ISIN Number: ZAE000084992
("Exxaro")
TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2010
Shareholders are advised that Exxaro will release its reviewed financial
results for the six months ended 30 June 2010 on 12 August 2010.
Consolidated net operating profit for the group for the six months ended 30
June 2010 is expected to show an improvement when compared to the
corresponding period in 2009. The group results were positively impacted by a
stronger global economic recovery resulting in higher commodity prices for the
period partially offset by a stronger average realised exchange rate.
The coal business is expected to deliver higher operating results for the six
months ended 30 June 2010 than the corresponding period in 2009 due primarily
to higher international sales prices and the inclusion of the Mafube joint
venture operating results acquired on 1 June 2009.
The mineral sands business will report a consolidated net operating profit due
to higher commodity prices, improved sales volumes, disciplined cost
management as well as the final proceeds of an insurance claim received during
the period for the water ingress incident that occurred at the KZN Sands
furnace 2 in February 2008.
The base metals business is expected to report a marginal increase in net
operating profit mainly due to higher commodity prices for the six months
ended 30 June 2010.
Headline earnings per share for the six months ended 30 June 2010 are expected
to be between 650 cents and 700 cents, representing an increase of between 60%
and 73% when compared to the corresponding period in 2009.
Attributable earnings for the six months ended 30 June 2010 are expected to be
between R2 288 million and R2 528 million. This equates to attributable
earnings per share for the six months ended 30 June 2010 of between 661 cents
and 731 cents, representing an increase of between 64% and 81% when compared
to the corresponding period in 2009.
The financial information on which this trading statement is based has not
been reviewed nor reported on by Exxaro`s external auditors. This statement is
issued in compliance with paragraph 3.4(b) of the Listings Requirements of the
JSE Limited.
Editors note:
Exxaro is one of the largest South African based diversified resources
companies, with interests in the coal, mineral sands, base metals and iron ore
commodities. www.exxaro.com
Enquiries:
Wim de Klerk
Financial director
Tel: + 27 12 307 4848
Mobile: +27 82 652 5145
Email: wim.deklerk@exxaro.com
Pretoria
5 August 2010
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 05/08/2010 09:00:05 Produced by the JSE SENS Department.
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