Johannesburg, South Africa — MININGREVIEW.COM — 17 February 2009 – South African diversified mining group African Rainbow Minerals (ARM) has revealed that it expects its headline earnings per share for the six months ended on 31 December 2008 to roughly triple.
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.
A trading statement released here today by the company said it expected headline earnings per share for the period to increase to between 950 and 1 100 cents per share, compared to 353 cents for the same period the previous year. Basic earnings per share were expected to be in the range of 950 to1 100 cents per share, compared to 414 cents per share for the six months to December 2007.
The statement added that sales volume increases had been recorded in platinum group metals (PGMs), iron ore and domestic thermal coal. The remaining commodities had reflected decreased sales volumes due to a slowdown in demand.
The company is due to report its interim results on 23 February 2009.