Headline earnings and basic earnings reported for the year ended 31 December 2014 (as released on SENS on 10 February 2015) ('the comparative period') were R11,006 million and R10,724 million respectively, while headline earnings per share ('HEPS') and earnings per share ('EPS') reported for the comparative period were R34.32 and R33.44 respectively.
The decrease in earnings is largely attributable to the significant decrease in export iron ore prices during the year.
In this regard, HEPS and EPS are also likely to be at least R6.86/share (20%) and R6.69 lower than those of the comparative period, respectively. Shareholders are advised that a further trading statement will be issued in due course to provide forecast ranges for HEPS and EPS as required by the JSE Listing requirements.
The forecast financial information on which this trading statement is based has not been reviewed and reported on by the Company's external auditors.