African Rainbow Minerals said that ARM expect profits to increase

Diversified miner African Rainbow Minerals said that it expects headline earnings per share to increase to between ZAR 15 and ZAR 16.10 per share for the year ended June 30th 2011 from ZAR 8.07 previously.

ARM said that its basic earnings per share was seen to be in line with headline earnings per share and are therefore expected to be in the same range, from ZAR 8.54 per share in 2010.

African Rainbow said its results had been positively impacted by much improved US Dollar commodity prices especially for iron ore. It said that “The results were however negatively affected by the strengthening of the rand relative to the US dollar.”

(Sourced from www.iol.co.za)

Posted in: African Rainbow Minerals,coal mining