African Rainbow Minerals (ARM) said its headline earnings dropped 42% for the year ended 30 June, largely impacted by the global slowdown in the demand for resources.
Despite the decline, ARM’s executive chairman Patrice Motsepe said that the company is still in a good shape financially.
Go deeper with GlobalData
“ARM is financially robust and continues to invest significant funds to grow the company despite the massive global economic crisis,” Motsepe said.
Headline earnings dropped to R2.3bn from R4.0bn in the previous year.
The firm’s ferrous division was the key contributor to the headline earnings as its share increased by 14% to R3,150m from R2,775m in the previous year.
Profit from operations prior to exceptional items reduced 44% to R3.7bn from R6.7bn, while EBITDA reduced by R2.7bn to R4.5bn.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataPlatinum group metal sales and production rose 6% to 323,259oz and iron ore sales increased 13% to 7.4 million tonnes.
