Tharisa PLC Earnings per share expected to more than double (9633O)
November 11 2016 - 3:30AM
UK Regulatory
TIDMTHS
RNS Number : 9633O
Tharisa PLC
11 November 2016
Tharisa plc
(Incorporated in the Republic of Cyprus with limited
liability)
(Registration number HE223412)
JSE share code: THA
LSE share code: THS
ISIN: CY0103562118
(Tharisa or the Company)
Trading statement
Tharisa expects its earnings per share to more than double from
the prior year.
In terms of section 3.4(b) of the JSE Listings Requirements,
companies are required to provide guidance to the market when they
are satisfied that a reasonable degree of certainty exists that the
financial results for the current reporting period will differ by
at least 20% from the results of the previous corresponding
reporting period.
Tharisa is currently preparing its financial statements for the
financial year ended 30 September 2016, with the financial results
expected to be released on or about 29 November 2016. Shareholders
are advised that Tharisa's basic earnings per share (EPS) for the
financial year ended 30 September 2016 is expected to be US$ 5
cents per share, with a tolerance of 10%. Headline earnings per
share (HEPS) is expected to be US$ 6 cents per share, with a
tolerance of 10%. This is an increase of 150% and 200% relative to
the EPS and HEPS of US$ 2 cents per share respectively for the
financial year ended 30 September 2015.
The Company's policy remains to distribute 10% of consolidated
net profit after tax for the financial year to its shareholders.
Further details regarding any distribution will be included within
the financial results to be released on or about 29 November
2016.
"These are very encouraging results in a subdued commodity
pricing environment. Going into FY2017, we are well geared to
maximise returns from a marked recovery in chrome ore prices to
above the US$350 per tonne level," said Tharisa CEO Phoevos
Pouroulis.
A production update for the fourth quarter of the financial year
ended 30 September 2016 was released on the JSE Stock Exchange News
Service and LSE Regulatory News Service on 10 October 2016.
Production guidance for the financial year ending 30 September 2017
remains at 147.4 koz of contained platinum group metals (on a 6E
basis) and 1.3 Mt of chrome concentrates of which 300 kt will be
specialty grade chrome concentrates.
The financial information on which this trading statement is
based has not been reviewed and reported on by the Company's
auditors.
Paphos, Cyprus
11 November 2016
JSE Sponsor
Investec Bank Limited
Investor Relations contact:
Tharisa plc
Sherilee Lakmidas
+27 11 996 3538
+27 79 276 2529
slakmidas@tharisa.com
Broker contacts:
Peel Hunt LLP (Joint Broker)
Matthew Armitt / Ross Allister
+44 207 7418 8900
BMO Capital Markets Limited (Joint Broker)
Jeffrey Couch/Neil Haycock/Thomas Rider
+44 020 7236 1010
This information is provided by RNS
The company news service from the London Stock Exchange
END
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November 11, 2016 03:30 ET (08:30 GMT)
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