Last checked at 2 May 2017 07:00
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 - interim results for the six months ended 31 March 2017
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 interim financial statements for the half year ended 31 March 2017, with the financial results expected to be released on or about 16 May 2017. Shareholders are advised that with the significant recovery in commodity prices and in particular chrome prices during the period under review, Tharisa's basic earnings per share (EPS) and headline earnings per share (HEPS) for the half year ended 31 March 2017 are expected to be between US$ 15 cents per share and US$ 17 cents per share relative to the EPS and HEPS of US$ 1 cent per share for the half year ended 31 March 2016.
"With substantially increased chrome concentrate prices achieved during the first half of FY2017, coupled with solid operational performance, we continue to deliver on our low cost, profitable co-product business model," said Tharisa CEO Phoevos Pouroulis.
A production update for the second quarter ended 31 March 2017 was released on the JSE Stock Exchange News Service and LSE Regulatory News Service on 10 April 2017. 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
2 May 2017
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
Financial PR contacts:
Bobby Morse/Anna Michniewicz
+44 020 7466 5000