ARM warns of lower earnings on lower prices, production and logistics challenges
Diversified mining and minerals company African Rainbow Minerals (ARM) expects to report an 18% to 27% year-on-year decrease in headline earnings to between R8.28-billion and R9.3-billion for the financial year ended June 30.
That compares with headline earnings of R11.34-billion reported for the 2022 financial year.
Headline earnings a share are expected to decrease to between R42.25 and R47.45, compared with the R57.87 a share reported for the prior financial year.
Basic earnings, meanwhile, are expected to decrease by between 33% and 42% to between R7.21-billion and R8.33-billion, compared with R12.43-billion in the prior comparable period.
Basic earnings a share are expected to decrease to between R36.79 and R42.50, from R63.43 in the 2022 financial year.
ARM attributes the decrease in headline earnings to lower commodity prices, lower production and sales volumes largely owing to logistics challenges, resulting in unit costs increasing by more than already elevated cost inflation.
The adverse impact on earnings was partially mitigated by the weaker rand against the dollar.
ARM will publish its results on September 4.
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