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Shares in Motsepe's ARM rally on 234% jump in headline earnings

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Patrice Motsepe. (File, AFP)
Patrice Motsepe. (File, AFP)

Johannesburg – The share price of African Rainbow Minerals (ARM) climbed over 11% on Thursday after the group reported headline earnings had grown 234% to over R1.6bn. This is attributed to the ARM Ferrous division and the Two Rivers Platinum Mine.

The shares were changing hands 11.46% higher at R105.26 minutes before trading on the JSE closed. This is still far off the R216-peak it reached in January 2014.

ARM, headed by executive chairperson Patrice Motsepe, however posted a loss of R283m for the six months ended December 31.

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