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HULAMIN LIMITED - Revised trading statement for the year ended 31 December 2018

Release Date: 18/03/2019 08:10
Code(s): HLM     PDF:  
Wrap Text
Revised trading statement for the year ended 31 December 2018

Hulamin Limited
(Incorporated in the Republic of South Africa)
(Registration number 1940/013924/06)
Share code: HLM
ISIN: ZAE000096210
("Hulamin" or "the Company")


Shareholders are referred to the trading statement for the year ended 31
December 2018, published on 28 February 2019, in which shareholders were
advised that Hulamin expected earnings per share (“EPS”), headline EPS
(“HEPS”) and normalised¹ EPS for the year ended 31 December 2018 to be within
the ranges shown below:

                       31/12/2018                     31/12/2017
                       Expectation at 28/02/2019      Restated (cents)

EPS                    -248(-361%) to -242(-354%)     95
HEPS                   93(-2%) to 99(+4%)             95
Normalised¹ EPS        79(+23%) to 85(+32%)           64

Shareholders are now advised that, following finalisation of the Company’s
results, Hulamin’s change in EPS, HEPS and normalised¹ EPS for the year ended
31 December 2018 will be as follows:

                       31/12/2018                     31/12/2017
                       Revised (cents)                Restated (cents)

EPS                    -242 (-355%)                   95
HEPS                   91 (-4%)                       95
Normalised¹ EPS        77 (+20%)                      64

¹ Normalised earnings are defined as earnings excluding metal price lag,
non-recurring items and once-off adjustments.

The revision relates principally to adjustments to the impairments arising
within the Rolled Products and Extrusions cash generating units and deferred
tax adjustments.

The financial information on which this trading statement is based has not
been reviewed or reported on by the Company’s external auditors.

Hulamin’s results for the year ended 31 December 2018 are expected to be
released on the Stock Exchange News Service on or about 19 March 2019.

18 March 2019

Questco Corporate Advisory Proprietary Limited

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