Sharenet Sites 
Sharenet Sites
Trading Statement
Assore Limited
(Incorporated in the Republic of South Africa)
Registration number: 1950/037394/06
Share code: ASR
ISIN: ZAE000146932
("Assore", “the group” or “the Company”)
TRADING STATEMENT
Shareholders of Assore (“Shareholders”) are advised that for the six months ended 31 December
2019 (“the current period” or “H1 FY20”), market conditions for its manganese and chrome
products were weaker than for the six months ended 31 December 2018 (“the previous period”
or “H1 FY19”). The effect of these market conditions was compounded by lower sales volumes
of iron ore. These weaker conditions were partially offset by higher iron ore prices and an average
Rand/US dollar exchange rate which was 4% weaker than in H1 FY19.
As a result, headline earnings for H1 FY20 are anticipated to decrease to between R2 020 million
(decrease of 31%) and R2 160 million (decrease of 26%) compared to R2 917 million recorded
in H1 FY19. Similarly, attributable earnings are anticipated to decrease to between R2 000 million
(decrease of 31%) and R2 130 million (decrease of 27%) compared to R2 916 million in H1 FY19.
Thus, headline earnings per share for H1 FY20 are anticipated to be between R19,58 (decrease
of 31%) and R20,94 (decrease of 26%) compared to R28,28 in H1 FY19 and attributable earnings
per share are anticipated to be between R19,39 (decrease of 31%) and R20,65 (decrease of
27%) compared to R28,27 in H1 FY19. Earnings per share calculations are based on a weighted
average number of 103,15 million (H1 FY19: 103,15 million) shares in issue.
The above information has not been reviewed or reported on by Assore's auditors. The results
for H1 FY20 are expected to be published on or about Friday, 21 February 2020.
Illovo Boulevard
Johannesburg
6 February 2020
Contact details:
Kieran Daly
011 770 6940
E-mail: kierandaly@assore.com
Singular Systems IR
Financial Communications Advisor
Jacques de Bie, 082 691 5384
Sponsor
The Standard Bank of South Africa Limited
Date: 06-02-2020 07:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
