JOHANNESBURG (miningweekly.com) – JSE-listed Northam Platinum on Friday said it expected to dip into the red for the six months to December 31, on the back of the consolidation of the Zambezi Platinum preference share dividends into the group’s results; lower metals prices; and the impairment of noncore assets.
The group expected its earnings a share and headline earnings a share to fall 171% to 191% to a loss of between 63.2c and 81c for the six months under review, compared with earnings a share of 89.2c and headline earning a share of 89.4c reported for the comparable interim period the year before.
“Zambezi ’s preference share dividends were not a feature of the comparable first half of 2014 results, as the black economic-empowerment transaction had not yet been concluded,” the company pointed out.
Northam said its mining operations were expected to post an operating profit of 60% to 70% lower than the corresponding period the year before.
The company expected to publish its interim results on February 26.