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TRANS HEX GROUP LIMITED - Trading statement

Release Date: 31/05/2016 13:30
Code(s): TSX     PDF:  
Wrap Text
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 “Group”)

TRADING STATEMENT

Trans Hex is currently finalising its results for the 12 months ended 31 March 2016 (the “Period”),
which should be released on SENS on or about 2 June 2016.

The Group expects to report:

-   net loss for the Period of R100,8 million compared to net profit of R190,6 million for the
    12 months ended 31 March 2016 (“Corresponding Period”);
-   loss after tax from continuing operations of R124,8 million, against profit of R169,1 million in the
    Corresponding Period;
-   loss per share of 94,4 cents (2015: earnings of 181,1 cents);
-   headline loss per share of 56,9 cents (2015: earnings of 78,6 cents); and
-   net asset value per share of 506,0 cents (2015: 630,0 cents).

COMMENTS

The following salient points will be fully reported upon when the Group releases its results:

-   Diamond prices declined by 23,5% compared to the Corresponding Period.
-   Sales were positively affected by a 27,2% weakening of the Rand against the US Dollar.
-   Sales revenue totalled R671,4 million (2015: R939,7 million).
-   Cost of goods sold amounted to R678,2 million (2015: R778,1 million), including retrenchment
    costs of R46,6 million at the Lower Orange River operations.
-   South African land operations recorded a gross loss of R6,8 million (2015: profit of
    R161,6 million).
-   Impairment charges in respect of the Lower Orange River operations amounted to R55,1 million
    (2015: R86,2 million).
-   Equity accounting loss from West Coast Resources (Pty) Ltd amounted to R13,6 million
    (2015: profit of R123,3 million).
-   Equity accounting loss from Somiluana Mine in Angola amounted to R15,8 million (2015: profit of
    R12,7 million).
-   Profit after tax from discontinued operations totalled R24,0 million (2015: profit of R21,5 million).
-   The Group’s net cash position at the end of the year was R353,5 million (2015: R407,2 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
31 May 2016

Sponsor
One Capital

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