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Preliminary results for the year ended 30 June 2008

17 September 2008

Petmin Limited, ("Petmin" or "the Company"), the JSE and AIMߛlisted minerals, mining and processing company which services the metallurgical and industrial sectors, announces its reviewed financial results for the year ended 30 June 2008.

Highlights:

• Revenue increased by 74% from R382 million to R667 million.
• Profit for the year increased by 411% from R74 million to R380 million.
• Headline earnings per share increased by 190% from 5.28 cents to 15.31 cents.
• Fully diluted earnings per share increased by 370% from 15.77 cents to 74.15 cents.
• The acquisition of a 25% share of Veremo Holdings (Pty) Ltd positions Petmin in a large scale iron project.
• R216 million capital spent to expand operations (2007: R113 million)

Commenting on these results, Bradley Doig, Petmin's Chief Operating Officer, said:

"These results reflect an improved performance from the Springlake Colliery in the second half, coupled with a consistently strong performance from the SamQuarz silica mine and a first full-year contribution from the Somkhele Colliery. The outlook for Petmin's financial performance in 2008/9 is encouraging."

• Full Preliminary Results for the year ended 30 June 2008 (PDF - 147KB)

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