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Johannesburg - Mining group Assore [JSE:ASR) on Monday advised that both attributable and headline earnings per share for the year ended June 30 2010 are expected to be between R57 and R64, from headline earnings of R137.72 per share and attributable earnings of R136.69 per share in 2009.
Earnings per share calculations are based on a weighted average of 23.94 million shares in issue, from 23.71 million shares previously.
"Sales volumes for all products have improved compared to the previous financial year, and US dollar prices for all products increased across the year and particularly in the second half of the financial year.
Prices for iron ore now exceed the levels they were at in September 2008 when the world economic turmoil commenced, however, prices for manganese ore and alloys, and chrome ore and alloys remain significantly below the levels achieved prior to September 2008," Assore said.
It said that most of group sales remained priced in dollars and results have been adversely affected by stronger exchange rates which prevailed throughout the year when compared to exchange rates in the 2009 financial year.
Assore said it expects to publish its results on about September 3 2010.
Earnings per share calculations are based on a weighted average of 23.94 million shares in issue, from 23.71 million shares previously.
"Sales volumes for all products have improved compared to the previous financial year, and US dollar prices for all products increased across the year and particularly in the second half of the financial year.
Prices for iron ore now exceed the levels they were at in September 2008 when the world economic turmoil commenced, however, prices for manganese ore and alloys, and chrome ore and alloys remain significantly below the levels achieved prior to September 2008," Assore said.
It said that most of group sales remained priced in dollars and results have been adversely affected by stronger exchange rates which prevailed throughout the year when compared to exchange rates in the 2009 financial year.
Assore said it expects to publish its results on about September 3 2010.
