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Epic & Msn data
Epic PMHL
Time: 07:54:22
Mid Price: 19.00
Change Today: 0.00
Change % Today: 0.00
Fifty Two Week High: 163.50
Fifty Two Week Low: 10.50
Market Capital: 25.19
Period & price data
Period Price
Now: 19.00
3 Months ago: 75.00
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: AIM
Sector: Construction & Materials
Epic: PMHL
News: Latest news
Web Site: Prosperity Minerals Holdings Limited
Other Articles: 04-12-200803-12-200820-10-2008

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Prosperity Minerals Holdings Limited

Prosperity is a cement manufacturer and iron ore trading group serving customers in the People's Republic of China (the 'PRC').
CLICK HERE FOR FULL ANLAYSIS OF PROSPERITY MINERALS HOLDINGS LIMITED
Tuesday, July 08, 2008

Prosperity Minerals results highlight solid progress

Prosperity Minerals (AIM: PMHL), the cement manufacturer and iron ore trading business in the People’s Republic of China announced fourth quarter results and full year results for the year ended 31 March 2008.

Full year financial highlights included revenues surging 53% to US$507.5 million, earnings before interest, tax, depreciation and amortisation jumped 38% to US$77.7 million, and profits before tax widened 29% to US$59.3 million. Basic earnings per share came in at 41.8 cents, which afforded the company to pay a final dividend of 12 cents per share, bringing the total dividend to 18 cents. The headline growth was due to a combination of both organic and acquisitive capacity expansion, and strong prices for both cement and iron ore.

David Wong, Chairman and CEO of Prosperity Minerals added: “I am very pleased with the Company’s overall performance and direction. Barring unforeseen circumstances, the Board is looking forward to a year of further progress in line with market expectations.”

In the update, the Company also confirmed that its expansion plans are on schedule, with the first clinker production line and two cement grinding facilities at Chao Hu due to be commissioned before the end of 2008. Prosperity Minerals also stated that it was considering a possible spin-off or demerger of its cement manufacturing business to unlock the “true value” of the cement business. Options under consideration also include a possible IPO or dual listing of the company’s shares on an “appropriate market”. This is wide spread speculation that Prosperity Minerals is eyeing up a secondary listing on the Hong Kong Stock Exchange to benefit from a better peer valuation.

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