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EXX
EXX
EXX - Exxaro Resources Limited - Trading statement for the six months ended
30 June 2011
EXXARO RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
JSE share code: EXX
ISIN code: ZAE000084992
ADR code: EXXAY
("Exxaro")
TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2011
Shareholders are advised that Exxaro will release its reviewed financial
results for the six months ended 30 June 2011 on 18 August 2011.
Consolidated net operating profit for the group is expected to show a strong
improvement when compared with the corresponding period in 2010. The group
results were positively impacted by strong demand for its products and
generally higher commodity prices for the period, partially offset by a
stronger average realised local currency and Australian dollar to the US
dollar.
The coal business is expected to deliver higher operating results than the
corresponding period in 2010 primarily due to higher export volumes at higher
international selling prices.
It is expected that the mineral sands business will report a higher
consolidated net operating profit than the corresponding period in 2010
mainly due to higher commodity prices supported by continued disciplined cost
management.
It is anticipated that the base metals business will report an operating loss
due to operational challenges adversely impacting on volumes and
profitability at the Zincor refinery in addition to an impairment of R439
million of the carrying value of the Zincor assets.
Headline earnings per share, which exclude the impact of the impairment of
the carrying value of the Zincor assets, for the six months ended 30 June
2011, are expected to be between 961 cents and 1 055 cents, representing an
increase of between 41% and 55% when compared with the comparative period in
2010.
Attributable earnings for the six months ended 30 June 2011 are expected to
be between R2 885 million and R3 237 million. This equates to attributable
earnings per share of between 829 cents and 930 cents, representing an
increase of between 19% and 34% when compared with the corresponding period
in 2010.
The forecast 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 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
Finance Director
Tel: + 27 12 307 4848
Mobile: +27 82 652 5145
Email: wim.deklerk@exxaro.com
Pretoria
4 August 2011
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 04/08/2011 07:06:01 Produced by the JSE SENS Department.
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