DTA - Delta - Revised Trading Statement for the year ended 27 December 2011
Delta EMD Limited
Incorporated in the Republic of South Africa
Registration number: 1919/006020/06
Share code: DTA ISIN: ZAE000132817
("Delta" or "the Group")
REVISED TRADING STATEMENT FOR THE YEAR ENDED 27 DECEMBER 2011
Delta shareholders are referred to the Group`s trading statement dated 18
October 2011 and to the commentary and earnings forecast contained therein.
In this regard, shareholders are advised that due to improved contribution
margins resulting from the weakening of the Rand in the last quarter of 2011 and
lower manufacturing costs, the Group now expects its full year profit before tax
to be higher than indicated in the previously published trading statement.
In addition, the Group`s 2011 results are expected to be enhanced by a
favourable tax ruling received in Australia relating to the 2010 sale of the
Group`s Australian residue disposal site. The 2010 taxation charge of R22
million related to that sale will be reversed in the Group`s 2011 accounts.
Earnings before taxation for the full year ended 27 December 2011 are forecast
to be between R34 million and R47 million (2010: R178 million). The Group`s
2010 earnings before taxation included a R80 million gain on the sale of the
Group`s Australian disposal site and a R52 million reversal of rehabilitation
provisions maintained for that site.
Earnings after taxation for the full year ended 27 December 2011 are forecast to
be between R43 million and R56 million (2010: R120 million). Headline earnings
after taxation for the full year ended 27 December 2011, are forecast to be
between R26 million and R34 million (2010: R69 million).
Earnings per share for the full year ended 27 December 2011 are forecast to be
between 87 cents and 114 cents (2010: 246.9 cents), and headline earnings per
share for the full year ended 27 December 2011 are forecast to be between 53
cents and 69 cents (2010: 140.5 cents).
The forecast financial information on which this trading statement is based has
not been reviewed and reported on by the Group`s external auditors.
Delta`s results for the year ended 27 December 2011 are expected to be released
on SENS on or about 13 February 2012.
20 January 2012
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 20/01/2012 08:00:00 Supplied by www.sharenet.co.za
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