Safety: overall
improvement in
Record iron and chrome ore sales and production
for the fourth
consecutive year
Record attributable
earnings for the second
consecutive year
Record annual
dividend of
R22,00 per share


Group financial performance

Headline earnings for FY18 are at a similar level compared to those recorded in FY17, decreasing by 2% to R5,1 billion, from R5,2 billion for FY17. Assmang’s headline earnings which were 5% lower than in FY17, at R7,1 billion contributed R3,5 billion (50%) towards Assore’s earnings. In accordance with International Financial Reporting Standards (IFRS), Assmang, in which Assore has a 50% interest, is classified as a joint venture and accordingly, its financial results are equity-accounted. The rest of the group’s operations reported headline earnings that were 4% higher than FY17, at R1,6 billion, Dwarsrivier contributed R875 million (FY17: R843 million) of this, with commissions and interest earned making up most of the balance. Attributable earnings amounted to R5,1 billion, 2% higher than FY17, representing another annual record.