Scharrig Mining Limited - Press Release
Scharrig Mining Limited
Incorporated in the Republic of South Africa
Registration number 1992/001973/06
Share code: SCN
ISIN: ZAE000006474
("Schamin" or "the Company")
Scharrig Mining Limited - Press Release
Scharrig Mining Limited released another set of improved results today.
Operating profit increased by 45% and headline earnings per share increased by
42%. Cas Scharrighuisen the managing director said that "Although turnover
increased by 13% our headline earnings increased by over 48%. In this six month
period we have focused on our efficiencies and the utilization of the fleet of
equipment." He stated that Schamin will continue to provide an effective and
valued service to its clients which should translate into value for its
shareholders".
Jason Holland, Schamin"s Financial Director commented that "the replacement of
plant for the financial year was on track with the company spending R53 million
of a budgeted R75 million. In addition the group invested R 52 million on
increasing the size and capacity of the fleet." Holland made the point that the
benefits of the expanded fleet should be attained in the future.
Scharriguisen commented that the demand for the company"s services from the coal
mining industry has continued to be strong. He further added that the prospects
for the remaining six months of the financial year looked good and the company
should achieve real earnings growth on the back of continued strong client
demand and operating efficiencies.
For further information contact Jason Holland at 011 -397 3870
ends
Date: 14/11/2005 09:53:49 AM Produced by the JSE SENS Department
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