https://www.engineeringnews.co.za

Northam expects to report narrowed FY losses

17th August 2016

By: Anine Kilian

Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – JSE-listed Northam Platinum expects to report narrowed losses a share for the year ended June 30.

The company on Wednesday said it was likely to report a loss a share of between 158.6c and 132.2c, and a headline loss a share of between 152.2c cents and 131.9c.

This compares with the 264.3c loss a share and the 202.9c headline loss a share reported in the prior financial year.
 
The anticipated loss is attributable to the higher Zambezi Platinum preference share dividends consolidated in the group’s results compared with the prior year. 

In line with International Financial Reporting Standards, Zambezi’s results are consolidated into the Northam group results, as a result of it having effective control over Zambezi. 
  
Meanwhile, Northam’s platinum group metal production is substantially higher year-on-year, with both the Zondereinde and Booysendal mines recording an operating profit. 

However, the group’s total operating profit is between 30% and 40% lower than the previous comparable year owing to a lower average basket price achieved.
 
The preliminary results for the financial year will be released on August 26.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

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:0.057 1.371s - 140pq - 2rq
Subscribe Now