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AFRICAN RAINBOW MINERALS LIMITED - Trading statement in respect of the financial year ended 30 June 2019

Release Date: 19/08/2019 16:48
Code(s): ARI     PDF:  
Wrap Text
Trading statement in respect of the financial year ended 30 June 2019

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”)


In terms 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 period.

ARM continued to benefit from portfolio diversification as higher US Dollar
prices realised for iron ore, palladium and rhodium more than offset lower
US Dollar prices realised for manganese ore, manganese alloy, platinum and
thermal coal. Earnings for F2019 were also positively impacted by a weaker
average realised Rand/US Dollar exchange rate. The iron ore division delivered
its highest reported earnings.

Headline earnings per share for F2019 are therefore expected to increase by
between 2% and 10% to between 2 577 and 2 779 cents (F2018: 2 526 cents).

Basic earnings per share for F2019 are expected to reduce by between 22% and
29% to between 1 700 and 1 866 cents (F2018: 2 393 cents) and were negatively
impacted by attributable impairments (after tax) of Nkomati Mine and Sakura
Ferroalloys of R1 070 million and R507 million, respectively.

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 F2019 provisional results will be released on 30 August 2019.


For all investor relations queries please contact:
Jongisa Magagula
Corporate Development and Head of Investor Relations
Tel:      +27 11 779 1507

19 August 2019

Sponsor: Investec Bank Limited


Date: 19/08/2019 04:48:00
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