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Implats expects 50% drop in full-year Heps

16th August 2013

By: Leandi Kolver

Creamer Media Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – Platinum miner Impala Platinum (Implats) on Friday advised its investors that headline earnings per share (Heps) for the 2013 financial year were expected to be between 50% and 55% lower than the Heps of 685c recorded in 2012.

The company’s Heps would likely be between 308c and 343c for the full year.

This was as a result of the operational performance of the company’s Rustenburg operations, above-inflation cost increases, and impairments of R1.3-billion of long-term receivables, Implats stated.

Further, basic earnings a share for the period ended June 30 were expected to be between 145c and 179c, which would be between 74% and 79% lower than that of the previous comparable period, which saw basic earnings of 690c a share.

In addition to the factors previously mentioned, Implats stated that the decrease in earnings a share was also owing to the about R1-billion write-down of goodwill resulting from the African Platinum acquisition in the 2007 financial year.

Implats’ results would be released on August 29.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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