Hulamin Limited - Trading Statement  For The Six Months Ended 30 June 2012

Release Date: 17/07/2012 08:22:00      Code(s): HLM

HULAMIN LIMITED

(Registration number 1940/013924/06)

(Incorporated in the Republic of South Africa)

Share Code: HLM

ISIN: ZAE000096210

(Hulamin or the company)

 

TRADING STATEMENT  FOR THE SIX MONTHS ENDED 30 JUNE 2012

 

The improvement in operational performance and production volumes

that was achieved during the first four months of 2012 was

disrupted by the failure of a motor on the Camps Drift hot line on

29 April 2012. The motor has been repaired and the line has been

operating normally since mid-June. The resulting insurance claim

has not yet been concluded and is not expected to impact the

results to June 2012.

 

The process of converting the Hulamin Pension Fund to Defined

Contribution has resulted in an allocation to the company which

has increased earnings by R67 million in the first half of the

year.

 

Earnings are expected to be between R70 million (22 cents per

share) and R75 million (24 cents per share), in line with the R73

million (23 cents per share) achieved in the corresponding period

in 2011. Headline earnings are expected to be between R54 million

(17 cents per share) and R59 million (19 cents per share), lower

than the corresponding period of the previous year of R71 million

(22 cents per share).

 

The above information has not been reviewed and reported on by the

company’s auditors.

 

Hulamin’s full results for the six months to June 2012 are

expected to be released on SENS on or about 30 July 2012.

 

 

Pietermaritzburg

17 July 2012

 

Sponsor

RAND MERCHANT BANK (A division of FirstRand Bank Limited)