Release of 2012 interim results
In compliance with the requirements of the Securities Act and the Listing Rules of the Lusaka Stock Exchange, Copperbelt Energy Corporation PLC announces the un-audited results for the period ended 30th June 2012 (Half Year Results).
Below are extracts from the results:-
Highlights
- Significant comparators between the first half of 2012 and the first half of 2011 are:
- Group turnover increased by 31%, this increase was due to a combination of an increase in volume consumption by mining customers as well as an increase in tariffs…
Financial Report
The half year Consolidated Summarised Financial Statements have been prepared in compliance with International Financial Reporting Standards (IFRSs), and accounting policies are consistent with those applied in the previous periods…
CEC Profile
CEC’s core business remains the supply of power to the mines based on the Copperbelt, it continues to wheel power through its network on behalf of Zesco Ltd on the Copperbelt and operate the interconnector with Societe Nationale D’electricite (SNEL) of the Democratic Republic of Congo (DRC)…
Dividends Proposed and Paid
During the period under review, a dividend of ZMK21.1 billion was proposed and paid, which represented a dividend of K21.12 per share. This translated to per US$ 0.40 cents per share using the Bank of Zambia mid rate on the day of declaration of the dividend.
Operations Update
CNMC Luanshya Copper Mines commenced operations of their new mine, resulting in an increase in the supply of power to the Luanshya area. CEC Liquid commenced construction of a second fibre link connecting through to Zimbabwe…
Future Developments
The further development of the Kabompo Gorge hydro project remains a priority, with key activities being the finalisation of the Implementation Agreement with the Government of the Republic of Zambia (‘GRZ’), the finalisation of the EPC construction contract and the selection of lenders for the project…
By Order of the Board
Julia C Z Chaila (Mrs.)
Company Secretary
To download CEC’s full 2012 interim results please click on the link below.
