[miningmx.com] — DIAMOND miner Trans Hex says it expects to report an annual net profit of around R208m, compared to a loss of R45.1m during the previous financial year.
Releasing a trading statement on Tuesday, the group said it was busy finalising its results for the twelve months to end-March, which should be released on June 1.
Profit after tax from continuing operations is expected to be approximately R81m, primarily as a result of a 21.4% increase in local production to 84,409 carats and a 14.7% increase in sales revenue to R755m.
Profit after tax from discontinued operations is expected to amount to R127m.
Trans Hex is expecting to report earnings per share from continuing operations
of 77 cents and earnings per share from discontinued operations of 121 cents, as well as headline earnings of 76 cents and 121 cents respectively.
Net cash generated was approximately R80m, resulting in the group’s net cash position at the end of the reporting period being approximately R347m.
