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Jubilee reports FY13 losses

27th September 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – JSE- and Aim-listed Jubilee Platinum marginally narrowed its losses for the year ended June 2013.

The group reported a headline and basic loss a share of 2.41p during the 2013 financial year, compared with the 2012 comparative headline and basic loss of 2.43p.

Jubilee’s total comprehensive loss for the year increased to £15.4-million, compared with the reported £14.7-million in the prior year.

However, revenue increased 28% from £3.7-million in 2012, to £4.8-million in 2013.

This was on the back of new electricity sales by 70%-owned Power Alt to South African State-owned power utility Eskom and steady production revenues at RST Special Metals, in Middelburg, which had also pushed gross profit up to £1.9-million during the period under review, from the £200 000 achieved in 2012.

Edited by Creamer Media Reporter

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