Commentary: Results

Headline earnings for the financial year to 30 June 2015 declined by 53,3% to R2,0 billion, compared to R4,2 billion in the previous financial year, while profit for the year, which is stated after impairment charges of R886 million, decreased by 68,0% to R1,3 billion, compared to R4,0 billion. These declines are due mainly to the lower level of headline earnings of Assmang Proprietary Limited (Assmang) for the year, which were lower by 56,8%, at R3,3 billion compared to the previous financial year and impairment charges in Assmang amounting to R812 million.

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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)
AD Stalker (Marketing)
BH van Aswegen (Technical and Operations)

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

Alternate
PE Sacco