JOHANNESBURG, Sept 7 (Reuters) - Full-year profit at African Rainbow Minerals ARIJ.J rose 166 percent on the back of higher commodity prices, the company said on Thursday, declaring its 11th consecutive annual dividend.
Diluted headline earnings per share (HEPS) from continuing operations, the main profit measure in South Africa that strips out once-off items, rose to 1,742 cents per share for the year ended 30 June 2017 versus a re-stated figure of 654 cents for the corresponding period last year.
Earnings were boosted by higher commodity prices, said ARM, which operates joint ventures with Anglo American (LON: AAL ) Platinum AMSJ.J , Assore ASRJ.J , Impala Platinum IMPJ.J , and Glencore GLEN.L .
"The significant increase was mainly as a result of higher U.S. dollar prices realised for all the commodities in ARM's portfolio relative to the previous corresponding year," the company said in a statement.
ARM declared an annual dividend of 650 cents per share, up from 225 cents per share for the same period last year.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.