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Trading statement in respect of the six months ended 31 December 2015
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”)
Trading statement in respect of the six months ended 31
December 2015
In terms of paragraph 3.4(b) of the Listings Requirements of the
JSE Limited, a listed company is required to publish a trading
statement as soon as it is satisfied that a reasonable degree of
certainty exists that the financial results for the period to be
reported on next will differ by at least 20% from those of the
previous corresponding period.
ARM’s headline earnings for the six months ended 31 December 2015
are currently anticipated to be at least 20% (R205 million) less
than those for the same period in the previous financial year.
Headline earnings per share are anticipated to be at least 20%
(95 cents) less than those for the same period in the previous
financial year.
Headline earnings reported for the six months ended 31 December
2014 were R1 026 million, while headline earnings per share were
473 cents.
The decrease in headline earnings is mainly due to the fall in US
Dollar commodity prices in comparison to those achieved in the
previous period. The lower US Dollar prices are partially offset
by the weaker exchange rate during the period.
ARM’s basic earnings for the six months ended 31 December 2015
are currently anticipated to be at least 20% (R160 million) less
than those for the same period in the previous financial year.
Basic earnings per share are anticipated to be at least 20% (74
cents) less than those for the same period in the previous
financial year.
Basic earnings reported for the six months ended 31 December 2014
were R801 million, while basic earnings per share were 369 cents.
ARM’s basic earnings are expected to be negatively impacted by an
unrealized mark-to-market loss on its Harmony Gold Mining Company
Limited (“Harmony”) investment due to the fall in the Harmony
share price below the previously reported level of R15.59 per
share, below which further mark-to-market adjustments through the
income statement would be required.
Shareholders are advised that a further trading statement will be
issued as soon as there is a reasonable degree of certainty as to
the likely range within 20%, by which the Company’s headline
earnings per share and basic earnings per share are expected to
decrease.
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 in March 2016.
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
11 December 2015
Sponsor: Deutsche Securities (SA) Proprietary Limited
Date: 11/12/2015 02:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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