ARM warns of an up to 50% y/y decrease in headline earnings
JSE-listed African Rainbow Minerals (ARM) has warned that its headline earnings for the 2024 financial year are expected to decrease by between 40% and 50% year-on-year to between R4.49-billion and R5.39-billion for the 12 months ended June 30, compared with about R8.98-billion in the financial year ended June 30, 2023.
The company attributes the decline in yearly headline earnings mainly to the decline in the average dollar six-element platinum group metals basket price and lower thermal coal prices.
This was partially offset by a weaker average rand:dollar exchange rate and higher average realised export iron-ore prices.
Headline earnings per share for the 2024 financial year are, therefore, expected to decrease to between R22.91 and R27.49, from R45.82 in the prior financial year.
Basic earnings for the financial year under review are also expected to decrease by between 60% and 70% to between R2.4-billion and R3.2-billion, down from about R8-billion in the prior year, while basic earnings per share are expected to decrease to between R12.36 and R16.48, from R41.21 in the prior year.
ARM’s condensed results for the 2024 financial year will be released on September 6.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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