ARM to report contraction in FY16 earnings

JSE-listed African Rainbow Minerals (ARM) expects its headline earnings for the year ended June 30 to decline by between 36% and 41%, hit by a contraction in the average US dollar commodity prices realised, partially offset by the weaker rand. Headline earnings a share are anticipated to decrease from 803c in 2015 to between 475c and 510c for the year under review.