DRDGOLD - Trading Statement
DRDGOLD Limited
(Formerly Durban Roodepoort Deep, Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
Share code: DRD
ISIN: ZAE000058723
ARBN number: 086 277 616
NASDAQ trading symbol: DROOY
(`DRDGOLD` or `the company`)
TRADING STATEMENT
This trading update is made in accordance with Paragraph 3.4(b) of the Listing
Requirements of the JSE Securities Exchange South Africa.
In terms of the JSE Securities Exchange South Africa Listings Requirements,
companies are required to publish a trading statement as soon as they are
reasonably certain that the financial results for the current reporting period
will be more than 20% different than that of the prior comparative period.
Shareholders are advised that despite a 45% increase in cash operating profit
for the six-month period 31 December 2004 compared to the six-months ended 31
December 2003, and a 21% reduction in net cash operating loss in the same
comparable period, the board of directors of DRDGOLD expects that the company`s
headline loss per share will be more than 200% higher than that reported for the
six months ended 31 December 2003. This is as a result of a higher tax charge,
resulting mainly from the suspension of deferred tax asset accounting in June
2004 largely as a result of the strengthening of the Rand, and the recording of
an equity loss of R20m from associates following the acquisition of an increased
shareholding in Emperor Mines in August 2004.
In addition, basic loss per share will be impacted by an impairment, not yet
quantified, to the carrying value of the South African based mining assets.
The above financial information refers to changes in bottom line losses as
calculated using SA GAAP accounting standards.
The financial information on which this trading statement has been based has not
been reviewed and reported on by the company`s auditors. The reviewed results
for the six months ended 31 December 2004 are expected to be announced on or
about 24 February 2005.
Johannesburg
18 February 2005
Sponsor
Standard Bank
Date: 18/02/2005 10:57:02 AM
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