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WSL - Wescoal Holdings Limited - Trading statement

Release Date: 16/11/2011 12:35:12      Code(s): WSL
WSL - Wescoal Holdings Limited - Trading statement                              
WESCOAL HOLDINGS LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 2005/006913/06)                                            
(JSE code: WSL ISIN: ZAE000069639)                                              
("Wescoal" or "the company")                                                    
TRADING STATEMENT                                                               
In terms of section 3.4(b) of the Listings Requirements of the JSE Limited,     
companies are required to publish a trading statement as soon as they are       
satisfied that a reasonable degree of certainty exists that the financial       
results for the period will differ by at least 20% from the financial           
results for the previous corresponding period.                                  
Shareholders are advised that the company expects that the earnings for the     
six months to 30 September 2011 will be between 9.2 and 11.2 cents per          
share, compared to prior period earnings per share of 8.1 cents. Headline       
earnings are expected to be between 7.0 and 7.7 cents per share, compared       
to prior period headline earnings per share of 7.9 cents.                       
The company is pleased with the interim results in comparison to the losses     
for the year ended 31 March 2011. Operational performance has been strong       
for the six months with production at Khanyisa Colliery at full capacity,       
producing 702 000 tons. Headline earnings per share have been adjusted for      
the profit on the sale of the Blesboklaagte washing plant disposed of in        
August 2011.                                                                    
The financial information on which this trading statement is based has not      
been reviewed or reported on by the company`s auditors.                         
The results of Wescoal will be released on Thursday 24 November 2011. A         
shareholder presentation on the interim results will take place at 9am on       
Thursday 24 November 2011 at the Houghton Boardroom. For more details on        
this presentation, contact Vanessa Ingram on 011 447 8656.                      
16 November 2011                                                                
Exchange Sponsors                                                               
Date: 16/11/2011 12:35:12 Supplied by www.sharenet.co.za                     
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