African Rainbow Minerals (ARM), a JSE Limited a listed company based in Johannesburg, South Africa, 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 interim results will be officially released on Tuesday 26 February 2013.
ARM’s interim results for six months ended 31 December 2012, in comparison to the corresponding six months to 31 December 2011 restated results, were negatively impacted by the fall in realised US Dollar prices for iron ore coupled with above inflation unit cost increases at some operations.
However, this was partially offset by improved performances at the Nkomati Nickel Mine, ARM Coal and increased sales volumes for nickel, iron ore, Eskom thermal coal, export thermal coal and platinum group metals.
The weaker Rand/US Dollar exchange rate had a positive impact on the interim results for the period ended 31 December 2012.
Accordingly, ARM announces that it expects headline earnings per share for the six months ended 31 December 2012 to decrease to between 630 cents and 675 cents per share.
Basic earnings per share are expected to be the same as headline earnings per share and are therefore expected to be in the same range of 630 cents to 675 cents per share.
The financial information on which this trading statement is based has not been reviewed or reported on by the external auditors of ARM.