We do it better Annual Report 2010

Integrated salient features

  • Headline earnings down 26% to R1.7 billion from R2.3 billion mainly due to a 16% stronger Rand and lower commodity prices. Headline earnings per share of 807 cents per share compared to 1 094 cents per share in the previous financial year.
  • Second half (2H F2010) headline earnings substantially up 178% to R1.26 billion from the first half-year (1H F2010) headline earnings of R454 million.
  • Significant increase in the 2H F2010 headline earnings to R1.26 billion compared to the corresponding six-month period (2H F2009) headline earnings of R85 million.
  • ARM pays an increased fourth annual dividend of 200 cents per share (F2009: 175 cents per share paid).
  • Cash and cash equivalents of R3.0 billion; net debt to equity of 1.7%.
Headline earnings and dividends (Rm)
Headline earnings and dividends (Rm)

Executive Chairman’s report

ARM achieved impressive operational results over the past financial year and is proceeding with its aggressive growth strategy despite the challenging and inconsistent global economic environment.  

Patrice Motsepe, Executive Chairman

Chief Executive’s report

ARM’s businesses have delivered a strong and exceptionally pleasing operating performance in a year which was effectively a recovery year from the economic downturn experienced in the second half of 2009.  

André Wilkens, Chief Executive Officer

Financial review

The ARM headline earnings of R1 714 million for F2010 (headline earnings per share of 807 cents) represent a firm recovery from the steep economic decline experienced in the first half of the 2009 financial year.  

Mike Arnold, Financial Director

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The Investment Analyst Society (IAS)/SAMREC Awards are given annually, after an adjudication of JSE listed Mining and Exploration Company Annual Reports by judges from the minerals industry

African Rainbow Minerals (ARM) was awarded the "2009 SAMREC award for the best Exploration Section".