Vedanta Resources PLC
14 June 2004
14th June 2004
Re: Announcement of Results
The board of Vedanta Resources plc has met this morning to review the
preliminary results for the year ended 31st March 2004 which were due to be
reported on 15th June 2004. The board has today taken the decision that it would
be prudent to delay the announcement of the audited results until 21st June
The delay is as a result of administrative difficulties in completing the
process of consolidating what will be the Group's first annual results under UK
GAAP. The Board wished to obviate the possibility of any errors that might
otherwise occur in finalising the numbers under time pressure.
The full year results of the group's major subsidiaries - Sterlite Industries
(India) Limited and Hindustan Zinc Limited - have been audited under Indian GAAP
and will be released later today as scheduled.
The Board is taking steps to ensure that the administrative process is
strengthened going forward to prevent any recurrence of this situation.
The Board expects that the Group will report full year EBITDA of at least US$320
million, before operating exceptionals of some $13 million relating to voluntary
retirement schemes. This is in line with market expectations.
For further information, please contact:
Peter Sydney-Smith, Group Finance Director
John Smelt, Head of Investor Relations
Vedanta Resources plc Tel: +44 20 7629 6070
Finsbury Tel: +44 20 7251 3801
This information is provided by RNS
The company news service from the London Stock Exchange