https://www.engineeringnews.co.za

Amplats expects a swing to profit in 2013 FY

22nd January 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Anglo American Platinum (Amplats), which is currently finalising its results for the year ended December 31, 2013, expects headline earnings a share (HEPS) for the period to increase to a profit of between 480c and 590c, after posting a loss of 562c for the prior fiscal year.

The increase in HEPS would be primarily owing to higher sales volumes and a favourable rand:dollar exchange rate, which was partially off-set by weaker US dollar metals prices, a once-off restructuring cost of R15-million and a higher effective tax rate resulting from an additional provision for tax in respect of prior years. 

In addition, basic earnings a share for the period was expected to improve to a loss of between 495c and 605c, from a loss of 2 558c for the comparative prior period.

Basic earnings for the period included one-off items such as a R2.8-billion write down in the carrying value of various projects and other assets as a result of the implementation of the restructuring plans.

Earnings were further impacted by the loss on the acquisition of properties amounting to R833-million related to the Atlatsa Resources Corporation refinancing transaction.

Amplats would release its results on February 3.

Edited by Tracy Klückow
Creamer Media Contributing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ACTOM
ACTOM

Your one-stop global energy-solution partner

VISIT SHOWROOM 
ZF Aftermarket
ZF Aftermarket

ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.

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







301

sq:0.049 0.798s - 140pq - 2rq
Subscribe Now