AFARAK GROUP CHANGES ITS FINANCIAL YEAR 2015 EB...

7.00 London, 9.00 Helsinki, 11 August 2015 - Afarak Group Plc, Stock Exchange Release


AFARAK GROUP CHANGES ITS FINANCIAL YEAR 2015 EBIT GUIDANCE

As a result of the strong performance during the first half of 2015, Afarak Group Plc ("Afarak" or the "Company") (LSE: AFRK, OMX: AFAGR) has revised its guidance and now estimates the Group's revenue for 2015 to remain at the same levels of 2014 but for EBIT to significantly improve when compared to 2014. The increase is primarily due to the positive effect of exchange rates, in particular the strong US dollar and weak South African Rand, but also improved sales from the FerroAlloys division and the re-opening of the Mecklenburg mine in December 2014.

Afarak had earlier in its outlook guidance provided in the full year result of 2014 published on 16 February 2015 expected its 2015 revenue to remain at the same levels of 2014 and EBIT to improve as compared to 2014.

AFARAK GROUP PLC
Alistair Ruiters
CEO


For additional information, please contact:

Afarak Group Plc
Dr Alistair Ruiters, CEO, tel [phone] (Helsinki Office), [e-mail]

Afarak Group is a chrome mining and minerals producer focused on delivering sustainable growth with a speciality alloys business in southern Europe and a ferro alloys business in southern Africa. The Company is listed on NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK).
www.afarak.com

Distribution:
NASDAQ Helsinki
London Stock Exchange
main media
www.afarak.com

---

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Afarak Group via Globenewswire

HUG#1944829