SENS- Monday, 28 October 2013 |
TSX 201310280045A Trading Statement TRANS HEX GROUP LIMITED Incorporated in the Republic of South Africa Registration number (1963/007579/06) Share code: TSX ISIN: ZAE000018552 ("Trans Hex" or "the Company" or "the Group") TRADING STATEMENT Trans Hex is currently finalizing its results for the six months ended 30 September 2013 ("the period"), which should be released on SENS on or about 1 November 2013. The Group expects to report a net loss for the period of R53,9 million compared to net profit of R32,9 million in the corresponding reporting period in 2012, primarily as a result of grade under- performance at the Group's South African operations and the effects of a 21-day strike over pay increases by members of the National Union of Mineworkers. The loss after tax from continuing operations is expected to be R69,0 million, against profit of R24,9 million in September 2012. The Group is expecting to report a loss per share of 51,0 cents (September 2012: earnings of 31,6 cents) and headline loss per share of 51,0 cents (September 2012: headline earnings of 21,5 cents). Net asset value per share is expected to be 450,0 cents (September 2012: 466,0 cents). COMMENTS The following salient points will be fully reported upon when the Group releases its results: - South African production amounted to 21,849 carats (September 2012: 35,865 carats). - Sales revenue decreased by 21.5% in Rand terms, from R330,7 million in September 2012 to R259,7 million. - South African operations generated a loss before tax of R88,6 million for the period, compared to profit of R34,2 million in the corresponding reporting period in 2012. - Production at Somiluana in Angola amounted to 35,779 carats during the period (September 2012: 22,600 carats). The operating margin was 35%, compared to -11% in September 2012. - Somiluana sales totalled US$16,9 million (September 2012: US$7,9 million) and the mine generated a net profit of US$5,9 million for the period, compared to a loss of US$0,9 million in the first six months of the previous financial year. - Net cash utilized during the period was R88,8 million (September 2012: net cash generated R4,3 million) resulting in the Group's net cash position at the end of the period being R294,6 million (September 2012: R351,7 million). The financial information on which this trading statement is based has not been reviewed and reported on by the Company's auditors. Cape Town 28 October 2013 Sponsor Sasfin Capital (a division of Sasfin Bank Limited) Date: 28/10/2013 03:23:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS. |
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