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Coal|Equipment|Operations
Coal|Equipment|Operations
coal|equipment|operations

Manganese, coal boost ARM’s interim earnings

17th February 2023

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

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JSE-listed African Rainbow Minerals (ARM) expects to report a 34% to 44% year-on-year increase in its headline earnings for the six months ended December 31, mainly as a result of higher earnings from its manganese and coal operations.

It states in a trading statement that headline earnings for the six-month period are likely to be between R4.95-billion and R5.32-billion, while headline earnings a share will be between R25.29 and R27.17.

Basic earnings for the period are expected to increase by between 8% and 16% to between R4.20-billion and R4.52-billion, while basic earnings a share will be between R21.47 and R23.06.

Basic earnings were impacted on by a number of impairments, including a R659-million impairment of property, plant and equipment at the Beeshoek mine; a R28-million impairment of property, plant and equipment at the Cato Ridge Works; and a R149-million impairment of the investment in Sakura Ferroalloys.

ARM will release its interim results on March 6. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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