| Mon 30 May 2011, 16:21 | | TSX - Trans Hex Group Limited - Trading statement |
|
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 Company" or "the Group")
TRADING STATEMENT
Trans Hex is currently finalising its results for the twelve months ended 31
March 2011 ("the period"), which should be released on SENS on 2 June 2011.
The Group expects to report a loss for the period of R45,1 million compared to a
profit of R21,6 million for the previous corresponding reporting period.
The Group is expecting to report a loss per share for continuing operations of
41,7 cents (2010: earnings per share of 23,8 cents) and a headline loss per
share of 45,1 cents (2010: headline earnings per share of 22,1 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:
- A remarkable turnaround from the South African operations was achieved
during the second six months of the reporting year. Profit before tax of
R116,0 million was generated compared to a loss before tax of R101,4
million in the first six months.
- South African production during the reporting period amounted to 69,508
carats (2010: 92,904 carats).
- Sales revenue down to R658,0 million (2010: R715,7 million) primarily as a
result of grade under-performance and the decision to temporarily suspend
stripping at the Baken operations, but also affected by stronger diamond
prices in the second half and a strong Rand.
- Net cash generated during the period was R21,9 million (2010: R40,2 million
generated) resulting in the Group`s net cash position at the end of the
reporting period being R267,5 million (2010: R245,6 million).
- A 17% increase in total gravels treated in SA and an 8% reduction in the
unit cost of production.
- Good progress in Angola, with Somiluana achieving sales of US $19,3 million
(2010: US $0,0), of which US $3,5 repaid to Trans Hex.
Cape Town
30 May 2011
Sponsor
Rand Merchant Bank (a division of FirstRand Bank Limited)
Date: 30/05/2011 16:21:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
