Trading Statement



 

29 September 2011
JUBILEE PLATINUM PLC
AIM: JLP
JSE: JBL
Registration number: 4459850
ISIN: GB0031852162

(“Jubilee”)

TRADING STATEMENT

 

In terms of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it becomes aware that the financial results for the next period to be reported on will show a 20% or more difference from those of the previous corresponding period.

Jubilee expects a significant increase in the reported revenue of between 470% and 490% with a corresponding increase in gross profits of between 480% and 500% for the financial year ended 30 June 2011 compared to the previous comparative period.  This increase in both revenue and gross profits is primarily generated by its smelting operation through Jubilee’s continued investment into the expansion of its smelting operations.

Jubilee is further expecting a decrease in earnings per share of between 130% and 150% for the financial year ended 30 June 2011 compared to that of the previous comparative period and a decrease in headline earnings per share of between 130% and 150% for the financial year ending 30 June 2011 compared to that of the previous comparative period.  This decrease in headline earnings is mainly influenced by financial entries related to the acquisition of both the smelter operations and power plant by Jubilee as well as increased expenditure related to the ramp-up of the smelter operations.

The information in this trading statement has not been reviewed or reported on by Jubilee’s auditors.  The year-end results announcement is expected to be published on or about 30 September 2011.

 

-End-

 

For further information, please contact:

 

Colin Bird/Leon Coetzer/ Andrew Sarosi

Jubilee Platinum plc

Tel +44 (0) 20 7584 2155 / Tel +27 (0)11 465 1913 / +44 (0) 1752 221937

 

Matthew Robinson/Rose Herbert – corporate finance

Joanna Weaving – corporate broking

finnCap Ltd

Tel +44 (0) 20 7600 1658

 

Jerry Keen/Dru Danford/Edward Mansfield

Shore Capital Stockbrokers Limited (Joint Broker)

Tel: +44 (0) 20 7 408 4090

 

Leonard Eiser /Sharon Owens

Sasfin Capital

Tel +27 (0) 11 809 7500

 

Nick Rome/Shabnam Bashir

Bishopsgate Communications Ltd

Tel +44 (0) 20 7562 3350