ARM FY headline earnings to increase; company sets R330m aside for silicosis claims

Diversified miner African Rainbow Minerals (ARM) expects its headline earnings a share for the 2017 financial year to be between R16.25 and R17.02, 229% to 245% higher than the headline earnings a share of R4.94 achieved in the 2016 financial year. The JSE-listed company noted in a trading statement on Monday that its headline earnings for the year ended June 30 had been positively impacted on by an increase in the average dollar commodity prices, which was partly offset by the negative impact of a stronger rand/dollar exchange rate.