Commentary: Results

Headline earnings for the financial year to 30 June 2016 (“2016”or “the reporting period”) declined by 11,7% to R1,7 billion, compared to R2,0 billion in the previous financial year (2015). After taking into account impairment charges of R299 million (2015: R886 million), attributable earnings for 2016 were similar to those recorded in 2015, at R1,5 billion, with attributable earnings for Assmang Proprietary Limited (Assmang) marginally lower by 2,7% at R2,6 billion in 2016. The group’s principal investment is a 50% interest in Assmang, which it controls jointly with African Rainbow Minerals Limited (ARM), and in accordance with International Financial Reporting Standards (IFRS), is accounted for using the equity method.

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Registered office
Assore House, 15 Fricker Road, IIlovo
Boulevard, Johannesburg, 2196

Company secretaries
African Mining and Trust Company Limited

Transfer office
Computershare Investor Services
Proprietary Limited, 70 Marshall Street,
Johannesburg,
2001

Sponsor
The Standard Bank of South Africa Limited
Directors

Executive
Desmond Sacco (Chairman),
CJ Cory (Chief Executive Officer),
PE Sacco (Marketing),
BH van Aswegen (Operations and Growth)

Non-executive
EM Southey* (Deputy Chairman and
Lead Independent Director), TN Mgoduso*,
S Mhlarhi*, WF Urmson*     

*Independent