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Updated trading statement in respect of six months ended 31 December 2014
African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
(“ARM” or the “Company”)
Updated trading statement in respect of the six months ended
31 December 2014
Shareholders are referred to the trading statement released
on the Stock Exchange News Service of the JSE Limited on
3 December 2014 whereby shareholders were advised that
headline earnings and basic earnings to be reported on for
the six months ended 31 December 2014 (1H F2015) would be
lower by at least 45% and 55%, respectively, than those of
the prior corresponding period. The Company and its
directors are satisfied that a reasonable degree of
certainty exists to provide shareholders with a likely range
by which the Company’s headline earnings per share and basic
earnings per share are expected to decrease.
ARM’s 1H F2015 headline earnings were negatively affected by
a decline in US Dollar export commodity prices, especially
for iron ore. The lower US Dollar prices were partially
offset by a weaker average Rand/US Dollar exchange rate
during the six month period.
Accordingly, ARM announces that headline earnings per share
for 1H F2015 are expected to decrease by between 55% and 58%
to between 455 and 490 cents per share (1H F2014: 1 084
cents per share).
ARM’s 1H F2015 basic earnings were impacted by an unrealised
mark-to-market loss on the Harmony Gold Mining Company
Limited investment due to the fall in the Harmony share
price below the previously reported level of R25.90 per
share. The basic earnings per share are therefore expected
to decline by between 52% and 55% to between 360 and 380
cents per share (1H F2014: 794 cents per share).
The financial information on which this trading statement is
based has neither been reviewed nor reported on by the
external auditors of ARM.
The Company’s interim results will be released on 16 March
2015.
ENDS
For all investor relations queries please contact:
Jongisa Magagula
Corporate Development and Head of Investor Relations
Tel: +27 11 779 1300
E-mail: jongisa.magagula@arm.co.za
Johannesburg
20 February 2015
Sponsor: Deutsche Securities (SA) Proprietary Limited
Date: 20/02/2015 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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