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ARM posts jump in interim profit

On higher prices and sales.
Image: Supplied

Diversified miner African Rainbow Minerals (ARM) reported on Wednesday a doubling in half-year profits, driven by an increase in iron ore sales volumes and higher prices for the steelmaking ingredient and platinum group metals.

The South Africa-listed company said headline earnings per share – the main measure of profit in the country – rose 134% to R25.87 per share during the six months ended December, from R11.14 a year earlier.

Read: ARM’s interim results for the six months ended December 31, 2020 on Sens

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