ARI
ARIM
African Rainbow Minerals Limited - Trading update in respect of the
twelve month period ended 30 June 2006
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 update in respect of the twelve month period ended 30 June 2006
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE
Limited ("the JSE") 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.
The ARM group"s results to 30 June 2006 have been positively impacted by a
strong performance from its PGM, nickel and iron ore operations owing to
increased volumes, and more specifically high commodity prices as well as a
weaker exchange rate during May and June of this year. These improved
results were somewhat offset by certain negative market conditions where
sales volumes and metal prices have been negatively affected for manganese
ore, ferromanganese and ferrochrome alloys.
Following the sale of 50% of Nkomati Nickel Mine ("Nkomati") to LionOre,
effective 31 May 2005, results for this year will only reflect 50% of the
profits from this operation whereas in the comparative year the Nkomati
profits were accounted for on a 100% basis for 11 months. Furthermore, ARM
shareholders are reminded of the fact that the interest held in Harmony
Gold Mining Company Limited ceased to be equity accounted with effect from
30 November 2004.
In light of the above, ARM announces that it expects headline earnings per
share for the twelve months ended 30 June 2006 to be between 215 and 235
cents per share ( June 2005 : headline earnings per share 166 cents per
share ).
This trading statement has not been reviewed or reported on by ARM"s
external auditors. The Company"s year end results will be released on 31
August 2006.
By order of the board
25 August 2006
Sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 25/08/2006 03:38:04 PM Produced by the JSE SENS Department
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