HVL
HVL
Highveld Steel and Vanadium Corporation Limited - Trading statement
Highveld Steel and Vanadium Corporation Limited
Registration no. 1960/001900/06
(Incorporated in the Republic of South Africa)
("Highveld")
Share code: HVL
ISIN code: ZAE000003422
Trading Statement
In terms of paragraph 3.4(b) of the 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 it is expected that for the twelve month period
ending 31 December 2006, the headline earnings per share will decrease
between 34 per cent and 46 per cent to a range between 933 cents and 1
133 cents per share and basic earnings per share will decrease between 37
per cent and 51 per cent to a range between 933 cents and 1 214 cents per
share compared to the same period last year. The difference between the
headline and basic earnings per share is predominantly due to the sale of
the Ferroveld Joint Venture investment. The timing of the ruling from
the Competition Commissioner relating to this disposal is uncertain.
The main reason for the decrease is weaker market conditions
predominantly for vanadium products not withstanding the strong demand
for steel in the local market.
The information in this trading statement has not been reviewed and
reported on by the auditors of the corporation.
The results are expected to be published on or about 6 February 2007.
For and on behalf of the Board.
WITBANK
8 NOVEMBER 2006
Sponsor: J.P Morgan Equities Limited
Date: 08/11/2006 05:12:05 PM Produced by the JSE SENS Department
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