African Rainbow Minerals FY24 HEPS down 43%
African Rainbow Minerals reported a 43 per cent drop in headline earnings for the year, blaming the drop in profits on the slump in PGM and coal prices and lower production. CNBC Africa is joined by Phillip Tobias, CEO, African Rainbow Minerals.
Fri, 06 Sep 2024 16:12:40 GMT
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AI Generated Summary
- ARM focuses on productivity improvement, cost containment, and disciplined capital allocation to maintain margins amid price fluctuations.
- The company is exploring growth opportunities and has acquired a stake in a strategic project in Canada to align with the decarbonization strategy.
- ARM remains adaptable and vigilant in monitoring market conditions to drive future growth and sustainability.
African Rainbow Minerals (ARM) has reported a 43 per cent drop in headline earnings for the year, citing the slump in PGM and coal prices and reduced production as key factors. In an interview with CNBC Africa, CEO Phillip Tobias delved into the challenges facing the company and outlined their strategies for navigating the current environment in the commodities sector. Tobias emphasized the importance of focusing on factors within their control, such as productivity improvement, cost containment, and disciplined capital allocation to maintain margins and weather the storm of price fluctuations. The company is looking towards long-term investment returns and is exploring growth opportunities despite the depressed prices in the market. ARM's acquisition of a 15% stake in a strategic project in Canada demonstrates their commitment to seeking out opportunities that align with their investment criteria and the decarbonization strategy. The company remains vigilant in monitoring market conditions and is poised to adapt and innovate as needed to drive future growth and sustainability.
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