Revenue declined to R7.6 billion (R9.5 billion). Gross profit decreased to R2.3 billion (R4.8 billion) and net attributable profit more than halved to R1.5 billion (R3.2 billion). In addition, headline earnings on a per share basis slumped to 6 241cps (13 772cps). Dividend A final ordinary dividend of 1 200 cps has been declared. Outlook Markets have recovered from the lows experienced towards the end of 2008 and into 2009. The extent of this recovery has been muted, however, due mainly to the recent pullback in Chinese economic growth and the European debt crisis, placing a degree of pressure on commodity prices in general. Ore and alloy prices for manganese and chrome have recently come under pressure, but iron ore prices remain robust. The pricing convention in the iron ore industry has undergone a structural change with effect from 1 April 2010, where prices are negotiated on a quarterly or spot basis, superseding the previous negotiations, which occurred annually between miners and customers. The new basis is now in line with the pricing convention operating in the manganese ore market. These circumstances, in combination with the group's exposure to fluctuations in exchange rates, make it difficult to estimate developments on group earnings with reasonable assurance or accuracy.