South African diamond miner Trans Hex swings into profit in Apr-Sep.

By bne IntelliNews November 11, 2011
South African diamond mining company Trans Hex posted a net profit of ZAR 1.7mn for the six months ended on September 30, 2011 compared to a net loss of ZAR 103mn for the same period last year. The groups sales revenue rose 12.1% y/y to ZAR 272mn in April to September. South African operations generated a profit before tax of ZAR 24.9mn, compared to a pre-tax loss of ZAR 101.4mn. Total sales attributable to the South African operations rose 20% to USD 39.5mn. In Angola, Somiluana mine, in which Trans Hex holds a 33% stake, recorded sales of USD 9.8mn, down 13% y/y. the groups headline earnings per share (EPS) totaled to 1.6 cents, compared to loss per share of 97.2 cents in April-September 2010.
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