MRF
MRF
Merafe Resources Limited - Trading Statement
Merafe Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number 1987/003452/06)
Share Code: MRF & ISIN: ZAE000060000
("Merafe" or "the Company")
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Trading Statement
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In terms of the JSE Limited Listings Requirements, companies are required to
publish a trading statement as soon as they become reasonably certain that the
financial results for the current reporting period will be more than 20%
different from those of the prior comparative period.
Merafe recorded a net loss of R27 million for the six months ended 30 June 2006
resulting in a net loss per share and headline loss per share of 1.2 cents for
the first half of the year. Merafe expects to make a net profit after tax of
between R151 million and R159 million for the remaining six months to 31
December 2006 resulting in earnings per share and headline earnings per share of
between 6.6 and 6.9 cents for the second half of the year.
The net profit after tax for the year ending 31 December 2006 is therefore
expected to increase by between 197 % and 217 % from the R41.7 million reported
for the 12 months ended 31 December 2005 to between R124 million and R132
million. This will represent earnings per share and headline earnings per share
of between 5.4 cents and 5.8 cents compared to 3.05 cents in the prior
comparative period.
Shareholders are advised that the above information has not been reviewed or
reported on by Merafe"s auditors. The results for the year ended 31 December
2006 are expected to be released on SENS on or about 6 March 2007.
Sandton
28 November 2006
Sponsor: Absa Capital
Date: 28/11/2006 04:33:02 PM Produced by the JSE SENS Department
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