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AFRICAN RAINBOW MINERALS LIMITED - Trading statement for the six months ended 31 December 2019

Release Date: 17/02/2020 16:33
Code(s): ARI     PDF:  
Wrap Text
Trading statement for the six months ended 31 December 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”)

TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2019
(1H F2020)

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 corresponding period.

ARM’s basic earnings for 1H F2020 are expected to increase by
between 60% and 65% to between R2 090 million and R2 155 million
(1H F2019: R1 306 million). Basic earnings for the six months ended
31 December 2018 (1H F2019) included an attributable impairment of
Nkomati Mine assets of R892 million after tax. The 1H F2020 basic
earnings per share are expected to be between 1 081 and 1 114 cents
(1H F2019: 682 cents).

Headline earnings for 1H F2020 are expected to decrease by between
1% and 3% to between R2 128 million and R2 176 million (1H F2019:
R2 201 million) as higher headline earnings at the platinum group
metals (PGM) and iron ore operations were offset by lower headline
earnings from the manganese, nickel and coal operations. Headline
earnings per share are therefore expected to be between 1 100 cents
and 1 125 cents (1H F2019: 1 149 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 F2020 financial results will be released on or
about 28 February 2020.

ENDS

For all investor relations queries please contact:

Jongisa Magagula
Executive Director:Investor Relations and New Business
Development
Tel:      +27 11 779 1507
E-mail:   jongisa.magagula@arm.co.za
                                                                  
Johannesburg
17 February 2020


Sponsor: Investec Bank Limited




                                 

Date: 17-02-2020 04:33:00
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