AFRICAN RAINBOW MINERALS LIMITED - Trading Statement in respect of the six months ended 31 December 2018 (1H F2019)

Release Date: 15/02/2019 14:35
Code(s): ARI
 
Wrap Text
Trading Statement in respect of the six months ended 31 December 2018 (1H F2019)

African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045


TRADING STATEMENT IN RESPECT OF THE SIX MONTHS ENDED 31
DECEMBER 2018 (1H F2019)


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 2018
(1H F2019) were positively affected by an increase in average
realised US Dollar prices for most of the commodities that ARM
produces and a weaker average realised Rand/US Dollar exchange
rate. Headline earnings per share for 1H F2019 are therefore
expected to increase by between 8% and 15% to between 1 100 and
1 180 cents (1H F2018: 1 023 cents).


Basic earnings for 1H F2019 were negatively impacted by an
attributable impairment of Nkomati Mine of R892 million after tax
and are expected to reduce by between 24% and 30% to between 650
cents and 700 cents per share. Basic earnings per share for the
corresponding period (1H F2018) were 922 cents.


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 1H F2019 financial results will be released on 1
March 2019.

ENDS


For all investor relations queries please contact:

Jongisa Magagula
Corporate Development and Head of Investor Relations
Tel:      +27 11 779 1507
E-mail:   jongisa.magagula@arm.co.za

Johannesburg
15 February 2019


Sponsor: Investec Bank Limited




                                                             

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