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Higher prices, sales volumes drive Implats to full-year profit

Implats CEO Nico Muller

Implats CEO Nico Muller

15th August 2019

By: Creamer Media Reporter

     

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A higher realised rand platinum group metals (PGMs) price, an improved operational performance and higher sales volumes have contributed to a significant increase in Impala Platinum's (Implats') gross profit for the financial year ended June 30.

In a trading statement published on Thursday, Implats said it expects to report a gross profit of R6.8-billion, compared with the R1.1-billion profit reported for the 2018 financial year.

Further, the company, which is headed up by CEO Nico Muller, expects to report headline earnings of between R2.92-billion and R3.16-billion and headline earnings a share of between 406c and 440c for the period under review.

This compares with a headline loss of R1.23-billion and a headline loss a share of 171c in 2018.

Basic earnings are expected to be between R1.3-billion and R1.65-billion, compared with a basic loss of R1.66-billion in 2018, while basic earnings a share are expected to be between 181c and 231c, compared with a basic loss a share of 1 486c in 2018.

Implats noted that impairments of R9.7-billion had negatively impacted on its basic earnings in 2018.

The PGMs producer will publish its results on September 5.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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