Photo by: Duane Daws
JOHANNESBURG (miningweekly.com) – JSE-listed African Rainbow Minerals (ARM) expected its basic and headline earnings a share for the 2014 financial year to be higher than that of the prior corresponding period.
ARM pointed out that, during the 2013 financial year, earnings had been negatively affected by exceptional items of R2.1-billion; however, during the 2014 financial year, exceptional items were considerably lower.
Accordingly, ARM expected its basic earnings a share to increase to between R14.60 and R15.80, up from R6.54 previously, while headline earnings a share were expected to be between R18.30 and R19.50, compared with R17.35 in the prior financial year.
ARM would release its results on September 4.