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Johannesburg, 20 August 2009
TRADING STATEMENT
In respect of the year ended 30 June 2009
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 year to 30 June 2008 the ARM financial results for the year
to 30 June 2009 have been impacted by:
- US Dollar commodity price decreases as a results of the global
economic recession;
- sales volume decreases in all commodities, except iron ore and PGMs;
- increased expenditure and restructuring costs at TEAL
Exploration & Mining Limited (TEAL); and
- fluctuations in
exchange rates, which include a strengthening of the Rand
against the US Dollar during the last two months of the financial
year.
Accordingly, ARM announces that
it expects headline earnings per share to decrease for the year ended 30
June 2009 to between 1 025 and 1 150 cents per share (F2008: 1906 cents per
share). Basic earnings per share are expected to be higher than headline
earnings per share, mainly due to a large exceptional gain recognized on
the TEAL restructuring transaction with Companhia
Vale do Rio Doce (Vale), and will be in the range
of 1 275 and 1 430 cents per share (F2008: 2 131 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 full year financial results will be released
on Monday 31 August 2009.
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
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