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ARI
ARIM
ARI - African Rainbow Minerals - Trading Statement
African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
("ARM" or the "company")
TRADING STATEMENT
In respect of the six month period ended 31 December 2008
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited a
listed company is required to publish a trading statement as soon as it is
satisfied that a reasonable degree of certainty exists that the financial
results for the period to be reported on next will differ by at least 20% from
those of the previous corresponding period.
In comparison to the corresponding period to 31 December 2007 the ARM financial
results for the six months to 31 December 2008 have been impacted by the
following:
- Sales volume increases in Platinum Group Metals (PGMs), iron ore and
domestic thermal coal. The remaining commodities reflected decreased
sales volumes due to a slow down in demand;
- Significant commodity price decreases for the duration of this
reporting period for PGMs and nickel;
- A 28% weaker Rand/US Dollar exchange rate; and
- Increased expenditure at TEAL.
Accordingly, ARM announces that it expects headline earnings per share to
increase for the six months ended 31 December 2008 to between 950 and 1 100
cents per share (headline earnings for the six months to December 2007 were 353
cents per share). Basic earnings per share are expected to be in the range of
950 and 1100 cents per share (basic earnings for the six months to December 2007
were 414 cents per share).
The financial information on which this trading statement is based has not been
reviewed or reported on by the external auditors of ARM.
The company`s interim results will be released on Monday 23 February 2009.
ENDS
For all investor relations queries please contact:
Monique Swartz
Corporate Development and Head of Investor Relations
Office: +27 11 779 1507
Mobile: +27(0)83 411 2881
E-mail: monique.swartz@arm.co.za
or
Corne Bobbert
Corporate Development
Office: +27 11 779 1300
Mobile: +27 (0) 83 380 6614
E-mail: corne.bobbert@arm.co.za
Johannesburg
17 February 2009
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 17/02/2009 13:46:02 Produced by the JSE SENS Department.
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