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DTA
DTA
DTA - Delta EMD Limited - Trading statement update for the year ending
27 December 2011
Delta EMD Limited
Incorporated in the Republic of South Africa
Registration number 1919/006020/06)
Share code: DTA ISIN: ZAE000132817
("Delta" or "the Group")
TRADING STATEMENT UPDATE FOR THE YEAR ENDING 27 DECEMBER 2011
Delta shareholders are referred to the Group`s unaudited results
announcement for the six months ended 27 June 2011 and the comments on
prospects contained therein dated 4 August 2011.
The Group expects its 2011 second half sales revenue and volumes to be
higher than during both the first half of 2011 and the second half of
2010. The Group`s sales mix are also expected to improve during the
second half of 2011, with increased sales into the higher margin EMD
market segment. Whilst the Group`s volumes and sales revenues are
expected to be higher, contribution margin per unit are expected to be
lower than the first half of 2011 and second half of 2010, as a result
of competitive US dollar selling prices and manufacturing cost increases
being absorbed by the Group. The Group`s production volumes during the
second half of 2011 are expected to be higher than the first half 2011
and second half 2010 volumes, contributing to improved manufacturing
overhead recoveries.
The global EMD market shows a slight recovery in demand when compared to
the first half of 2011 and second half of 2010,but market prices remain
under pressure with major battery producers sourcing most of their EMD
requirements from domestic EMD suppliers who are operating at near full
capacity.
The Group`s administration cost in respect of the Australia plant site
has been reduced, and the sale of the plant site in Australia is not
envisaged to be completed during 2011.
The Group`s 2011 full year profit before taxation is expected to be
lower than the profit before tax of R178.1 million for the full year
ended 28 December 2010, which included R132.5 million related to the
sale of the Australian residue disposal site.
Earnings after taxation for the full year ending 27 December 2011 are
forecast to be between R16 million and R22 million (2010: R120 million).
Headline earnings after taxation for the full year ending 27 December
2011, are forecast to be between R16 million and R22 million (2010: R69
million).
Earnings per share for the full year ending 27 December 2011 are
forecast to be between 33 cents and 45 cents (2010: 246.9 cents), and
headline earnings per share for the full year ending 27 December 2011
are forecast to be between 33 cents and 45 cents (2010: 140.5 cents).
The forecast financial information on which this trading statement is
based has not been reviewed and reported on by the Group`s external
auditors.
Delta`s results for year ending 27 December 2011 are expected to be
released on SENS on 13 February 2012.
Nelspruit
18 October 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 18/10/2011 08:45:01 Produced by the JSE SENS Department.
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