ARM to report lower interim earnings
JSE-listed African Rainbow Minerals (ARM) expects its headline earnings for the six months ended December 31, to be between 24% and 33% lower year-on-year at between R3.38-billion and R3.83-billion.
Headline earnings a share are expected to be between R17.33 and R19.66.
Basic earnings for the period are expected to decrease by between 17% and 26% to between R3.60-billion and R4.04-billion, while basic earnings a share are expected to be between R18.49 and R20.74.
ARM attributed the decline in headline earnings to a number of factors, including that a portion of the ARM Platinum receivables as at June 30, 2021, were realised at lower prices following the decline in rhodium and palladium prices in the first three months of the period under review, which resulted in negative mark-to-market adjustments.
Moreover, the rand strengthened versus the dollar, while the average iron-ore and palladium prices were lower year-on-year.
The company’s results for the interim period will be released on March 3.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation