ARM's financial performance: Headline earnings rise amid coal losses

AFRICAN Rainbow Minerals' (ARM) headline earnings increased 10% for the six months to December 31, despite lower production volumes, a really strong turnaround in its platinum mining financial results and despite a loss from its coal mines.

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Headline earnings came to R1,67 billion or R8,66 per share. An interim dividend of R5 per share was declared, up from R4,50 at the same time last year. A robust financial position was indicated by net cash rising to R8,46bn at December 31, versus R6,61bn at the end of June 2025.

ARM's share price nevertheless fell 3,3% to R221,37 on the JSE Friday morning, although the price remained over 46% higher than the R150,96 it traded at a year before.

Basic earnings increased by 69% to R2,35bn or R12,20 per share and includes attributable impairments of R19m after tax, versus R136m after tax at the same time a year before.