African Rainbow Minerals (JSE:ARI) News - Trading Statement for the six months ended 31 December 2021

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 FOR THE SIX MONTHS ENDED 31 DECEMBER 2021
(1H F2022)

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.

Headline earnings for 1H F2022 are expected to decrease by between
24% and 33% compared to the corresponding six months ended 31
December 2020 (1H F2021) to between R3 376 million and R3 830
million (1H F2021: R5 039 million). Headline earnings per share
are therefore expected to be between 1 733 cents and 1 966 cents
(1H F2021: 2 587 cents).

Basic earnings for 1H F2022 are expected to decrease by between
17% and 26% to between R3 602 million and R4 040 million (1H F2021:
R4 868 million) while basic earnings per share are expected to be
between 1 849 cents and 2 074 cents (1H F2021: 2 499 cents).

The decline in 1H F2022 headline earnings was mainly as a result
of:
   - A portion of the ARM Platinum receivables as at 30 June 2021
     being realised at lower prices following the decline in
     rhodium and palladium prices in the first three months of the
     period under review, which resulted in negative mark-to-
     market adjustments;
   - A strengthening of the rand versus the US dollar exchange
     rate; and
   - Lower average realised US dollar iron ore and palladium
     prices.

The financial information on which this trading statement is
based has not been reviewed or reported on by ARM's external
auditors.

The Company’s 1H F2022 financial results will be released on 3
March 2022.

                                                                 
For all investor relations queries please contact:

Jongisa Magagula
Executive Director for Investor Relations and New Business
Development.
Tel:      +27 11 779 1507
E-mail:   jongisa.magagula@arm.co.za
Johannesburg
18 February 2022
Sponsor: Investec Bank Limited




                                                             

Date: 18-02-2022 02:50:00
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