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The company declared an interim dividend of 80 cents per share, up from 50 cents per share at the halfway point in its 2005 financial year.
Announcing its interim results on Wednesday, Assore said turnover had improved to R1.41bn from R1.34bn the previous year, although gross profit was trimmed to R284.1m versus R342.3m.
Profit for the period deteriorated to R155.4m from R215.1m.
Attributable earnings, at R146.7m, were 26.6% lower than the R199.8m recorded a year earlier. Assore ascribed the drop, which was in line with its February trading statement, to a 24% decline in earnings from Assmang for the period, which Assore controls jointly with African Rainbow Minerals (ARM).
Assmang's results had been affected by recent negative market conditions for manganese ore, ferromanganese and charge chrome, which had resulted in lower market prices and lower sales volumes for certain products.
Assore's net asset value per share was reported at 82.7 cents from 63.7 cents the previous year. Capital expenditure for the period totaled R159.5m, compared to R140.4m at the halfway stage in 2005.
Cash generated from operations declined to R67.8m from R234m a year earlier, but cash resources at period-end improved to R203.7m from R178.2m.
Following period end, Assore made an offer to Assmang minority shareholders to increase its interest in the company to 50%, which if successful would result in the de-listing of Assmang from the JSE.
The group also finalised a black economic empowerment transaction that will see 15.02% of Assore's shares acquired by Shanduka Resources, a black-owned investment company (11.76%) and the Bokomo Trust (3.26%).
