Trading Update

RNS Number : 1729P

Jubilee Platinum PLC

29 September 2011

 



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 [phone] / Tel [phone]

Matthew Robinson/Rose Herbert - corporate finance

Joanna Weaving - corporate broking

finnCap Ltd

Tel [phone]

Jerry Keen/Dru Danford/Edward Mansfield

Shore Capital Stockbrokers Limited (Joint Broker)

Tel: [phone]

Leonard Eiser /Sharon Owens

Sasfin Capital

Tel [phone]

Nick Rome/Shabnam Bashir

Bishopsgate Communications Ltd

Tel [phone]

 

END

 

 

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