Trans Hex expects to widen FY loss

Diamond miner Trans Hex expects to report a loss a share of 175.6c for the financial year ended March 31, compared with a loss a share of 173.6c in the prior financial year.

The company further expects to report a headline loss a share of 216.5c, compared with a headline loss a share of 114.6c in the previous corresponding period.

Trans Hex, however, expects to report a net profit from continuing operations of R26.2-million, compared with a net loss of R65.2-million in the 2017 financial year.

Its net loss from discontinued operations, including retrenchment costs of about R99.3-million, is expected to be R213-million, compared with a loss of R117.3-million in the prior year.

The group net loss is expected to reach R186.8-million, compared with the loss of R182.6-million incurred in the prior year.

Trans Hex will release its results on June 21.