HVL
HVL
Highveld Steel And Vanadium Corporation Limited - Trading Statement
Highveld Steel and Vanadium Corporation Limited
A member of the Anglo American plc Group
Registration no. 1960/001900/06
(Incorporated in the Republic of South Africa)
("Highveld")
Share code: HVL
ISIN code: ZAE000003422
TRADING STATEMENT
In terms of the revised Listings Requirements of the JSE Limited, a listed
company must publish a trading statement as soon as it is satisfied that a
reasonable degree of certainty exists that the financial results for the period
to be reported upon next will differ by at least 20 per cent from that of the
previous corresponding period.
Highveld hereby notifies that it is expected that for the six month period
ending 30 June 2006, the headline earnings per share will decrease by between 60
per cent and 70 per cent compared to the first six months of 2005. Basic
earnings per share will decrease by between 65 per cent and 75 per cent compared
to the first six months of 2005. The difference between headline and basic
earnings per share is predominantly due to the non-recurring profit on the sale
of the Columbus Stainless (Proprietary) Limited and Acerinox, S.A. investments
in 2005.
The main reason for the reduction in earnings in 2006 is the lower vanadium
prices.
The information in this trading statement has not been reviewed and reported on
by the auditors of the corporation. The financial results are expected to be
published on or about 27 July 2006.
For and on behalf of the Board
Witbank
12 May 2006
Sponsor
JPMorgan Equities Limited
Date: 12/05/2006 03:12:55 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
