| Tue 15 May 2012, 16:13 | | 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 finalising its results for the twelve months ended 31
March 2012 ("the period"), which should be released on SENS on 1 June 2012.
The Group expects to report a net profit for the period of approximately R208
million compared to a loss of R45,1 million for the previous corresponding
reporting period.
Profit after tax from continuing operations is expected to amount to
approximately R81,0 million (2011: loss of R11,4 million) primarily as a result
of a 21.4% increase in South African carat production to 84,409 carats (2011:
69,508 carats) and a 14.7% increase in sales revenue to R755 million (2011:
R658,0 million).
Profit after tax from discontinued operations is expected to amount to
approximately R127 million (2011: loss of R33,7 million) as a result of the
prescription of certain debts in respect of the terminated Luarica and Fucauma
joint venture projects in Angola, the revision of certain provisions in respect
of remaining liabilities relating to those projects, and the set-off of certain
liabilities owed by joint venture parties to Trans Hex in respect of those
projects, resulting in a reversal of impairment.
The Group is expecting to report earnings per share from continuing operations
of approximately 77 cents (2011: loss per share of 10,8 cents) and earnings per
share from discontinued operations of approximately 121 cents (2011: loss per
share of 31,9 cents).
Headline earnings per share from continuing operations are expected to be
approximately 76 cents (2011: loss per share of 14,3 cents) and headline
earnings per share from discontinued operations are expected to be approximately
121 cents (2011: loss per share of 31,4 cents).
Net cash generated during the period was approximately R80 million (2011: R21,9
million) resulting in the Group`s net cash position at the end of the reporting
period being approximately R347 million (2011: R267,5 million).
Net asset value per share at 31 March 2012 amounted to approximately 442 cents
(2011: 292 cents).
The financial information on which this trading statement is based has not been
reviewed and reported on by the Company`s auditors.
Cape Town
15 May 2012
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Date: 15/05/2012 16:13:03 Produced by the JSE SENS Department.
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