| Tue 8 Nov 2011, 15:29 | | TSX - Trans Hex Group Limited - Trading statement |
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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 finalizing its results for the six months ended
30 September 2011 ("the period"), which should be released on SENS on
or about 9 November 2011.
The Group expects to report profit after tax from continuing operations
of R16,3 million, against a loss of R86,5 million in the corresponding
previous reporting period.
Group net profit for the period is expected to be R1,7 million compared
to a loss of R103,0 million in September 2010.
The Group is expecting to report earnings per share for continuing
operations of 15,4 cents (September 2010: loss per share of 81,8 cents)
and headline earnings per share of 15,4 cents (September 2010: headline
loss per share of 81,8 cents).
COMMENTS
The following salient points will be fully reported upon when the Group
releases its results:
- South African operations generated a profit before tax of
R24,9 million for the period, compared to a loss of R101,4
million in the corresponding reporting period in 2010.
- South African production amounted to 33,199 carats (September
2010: 32,288 carats).
- Sales revenue increased by 12.1% in Rand terms, from R242,7
million in September 2010 to R272,0 million.
- Net cash utilized during the period was R64,1 million
(September 2010: R68,2 million) resulting in the Group`s net
cash position at the end of the period being R203,4 million
(September 2010: R177,3 million).
- Production at Somiluana in Angola increased significantly to
20,473 carats during the period (September 2010: 6,164
carats). Sales totalled US$9,8 million (September 2010:
US$11,3 million, including the sale of pilot production
carats).
The financial information on which this trading statement is based has
not been reviewed and reported on by the Company`s auditors.
Cape Town
8 November 2011
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 08/11/2011 15:29:04 Produced by the JSE SENS Department.
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