Cafca Limited published the following trading update:
"CAFCA believes it is good corporate governance to publish a trading statement if a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by a meaningful percentage from those of the previous corresponding period.
Accordingly, shareholders are advised that:
Basic earnings per share and headline earnings per share for the year ended 30 September 2018 will be approximately 10.5 US $ cents per share which is above the 2.21 US $ cents per share of 2017.
Profitability has been improved by strong local demand and a change in sales mix from aluminum to copper products. The high level of finished goods brought forward from the previous year have also contributed and allowed us to hold our prices throughout the year.
The prior year was adversely affected by a volume decrease that resulted in break-even months until the cost base was significantly reduced – this cost base has since been maintained
The financial information on which this statement is based has not been reviewed and reported on by CAFCA’S external auditors.
Shareholders are therefore advised to exercise caution in the trading of their CAFCA shares and to be aware that a Dividend has been approved by the Directors and this will be announced shortly."