Trend indicators for day trading12 comments
Australian binary option broker no deposit bonus 2014
Net profit for the year Less: Profit on sale of - fixed assets 1 Plus: Attributable earnings per Fully diluted earnings per share information is reflected showing the potential effect of dilution for 2. Trading continues to post improved performances with revenues, margins and profit from operations showing substantial increases. The washing operation has now reached a point of sustained profitability contributing to headline earnings.
Further substantial price increases have been implemented subsequent to the reporting period. The gross margin improved by 2. The upgrade of the plant, secure supply of run of mine and improved yields contributed to this improvement and should continue to do so.
Operating costs increased by Excluding this bad debt provision, operating costs increased by only Profits from operating activities increased by The containment of finance costs is due to management focus on asset management and strict control over credit control policies. The group generated operating cash of R Cash flow from investing activities includes a prepayment of R 24 million which was made on the last day of the financial year as payment for the Express Coal acquisition.
The remainder of the cash flow spend on investing activities was made on property, plant, equipment and intellectual property of which the benefits will only be enjoyed in the future.
These results do not yet reflect the positive impact the following developments will have on results as they occurred subsequent to the reporting period: Segment Analysis The analysis below, details the contribution of the two main divisions within the group: Severe price increases have already been experienced subsequent to the reporting period as a result of this.
Planning is under way to build a new production facility for Wescoal Mineral Recovery to increase production of briquettes from 2, to 20, tons per month. With the high pricing levels for coal, some industries are turning to the more cost effective briquetted product.
Prospecting is ongoing in some of the exploration areas but the work rate will, in conjunction with drilling contractors, be accelerated to complete the process within 2 years. In addition, the group will continue to seek additional resources. The following developments which took place during the financial year are expected to lead to substantial growth and an increased asset base for the future: The acquisition of Express Coal during November that became unconditional and effective 1 April ; The proposed acquisition of coal prospecting rights from Vuselela Mining Pty Limited and Razorbill Properties Pty Limited as announced on SENS on 10 April with an estimated 9 million tons of coal detailed in the resource statement above; and The proposed acquisition of coal prospecting rights in conjunction with Proudafrique Trading Pty Limited as announced on SENS on 2 June with an estimated 66, 5 million tons of coal detailed in the resource statement above.
Overall the group can look forward to further improved results fuelled by the continuing high demand for coal and the escalating price structures. Robinson Ramaite acquired Corporate Governance The group subscribes to and is in the process of implementing where applicable, the principal recommendations of the King II Code of Corporate Governance.
Dividends No dividend has been declared. Accounting policies and presentation The annual financial statements for the year ended 31 March are prepared in accordance with International Financial Reporting Standards, and in a manner required by the Companies Act, and incorporates responsible disclosure in line with the accounting philosophy of the group.
The financial statements are based on appropriate accounting policies consistently applied and supported by responsible and prudent judgments and estimates.
By order of the Board 11 June M. PO Box Krugersdorp Company secretary: P Janse van Rensburg Telephone: Exchange Sponsors Pty Limited Date: The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for or in respect of any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.