https://www.engineeringnews.co.za

Improved operational performance, prices lift Amplats’ interim earnings

Improved operational performance, prices lift Amplats’ interim earnings

Photo by Bloomberg

16th July 2018

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

JSE-listed Anglo American Platinum (Amplats) on Monday advised that its headline earnings and headline earnings per share (HEPS) for the six months ended June 30 are likely to be between R3.2-billion and R3.4-billion and between R1.20 and R1.30, respectively.

This is compared with the headline earnings of R747-million and the HEPS of 285c reported for the first half of the 2017 financial year.

In an updated trading statement, Amplats noted that its basic earnings for the first half of this year are likely to increase to between R2-billion and R2.2-billion, compared with a R1.1-billion earnings loss in the prior comparable period.

Earnings a share are likely to be between 778c and 866c, compared with the loss a share of 453c in the prior comparable period.

The company attributed the expected increase in headline earnings and basic earnings to an improved operational performance, as well as an improvement in the rand basket price for the period.

In addition, in the comparable period, Amplats had attributable post tax-impairments totalling R2.2-billion, which impacted on basic earnings and headline earnings.

Basic earnings in the current period are impacted on by an impairment of R600-million relating to the disposal of the 33% holding in the Bafokeng Rasimone Platinum Mine joint venture to Royal Bafokeng Platinum and a loss of R800-million on the finalisation of the disposal of Union Mine and Masa Chrome, while benefiting from an insurance receipt of R200-million in respect of property damage suffered at the convertor plant in 2017.

Both basic and headline earnings benefit from a revaluation gain on the deferred consideration in respect of the sale of the Rustenburg Mines of R300-million.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Magni SA
Magni SA

Magni SA is committed to developing the safest Telehandlers available to our customers for underground and surface mining, construction, forestry,...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.073 0.133s - 156pq - 2rq
Subscribe Now