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Trading Statement Update For The Year Ending 27 December 2012
Delta EMD Limited
Incorporated in the Republic of South Africa
Registration number 1919/006020/06
Share code: DTA ISIN: ZAE000132817
(“Delta EMD” or “the Group”)
TRADING STATEMENT UPDATE FOR THE YEAR ENDING 27 DECEMBER 2012
Delta EMD shareholders are referred to:
- the unaudited results for the interim period ended 27 June 2012
released on SENS on 15 August 2012; and
- the trading statement for the year ending 27 December 2012
released on SENS on 17 August 2012, and to the commentary
contained therein.
The Group’s Earnings and Headline Earnings after taxation for the
twelve months ending 27 December 2012 are forecast to be lower
than for the year ended 27 December 2011.
The movement from year-to-year is partly attributed to a forecast
taxation charge for the current period of R10.8 million compared
to a tax credit of R9.5 million for the same period during
2011.The tax credit resulted from a capital gains taxation
reversal of R24 million that arose from a favourable tax ruling in
Australia.
For the year ending 27 December 2012 the Group expects similar
sales volumes, slightly lower production volumes and higher
production costs. 2012 average Rand denominated selling prices
are forecast to be slightly lower compared to 2011 due to a less
favourable sales mix and reduced US dollar market prices.
Operating margins are consequently forecast to be lower than for
the comparable period during 2011.
The Group’s Headline Earnings for the twelve months ending 27
December 2012 are forecast to be between R16 million and R22
million (2011: Headline Earnings of R31.7 million). The Group’s
Earnings are forecast to be between R16 million and R22 million
(2011: Earnings of R55.5 million including the tax reversal noted
above).
Earnings per share (“EPS”) and Headline Earnings per share
(“HEPS”) for the twelve months ending 27 December 2012 are
forecast to be between 32.54 cents and 44.75 cents (2011: EPS
112.8 cents, HEPS 64.5 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 EMD’s results for the year ending 27 December 2012 are
expected to be released on SENS on or about 15 February 2013.
Nelspruit
06 December 2012
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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