Ahead of releasing its full-year results on February 22, global diversified miner Anglo American Platinum (Amplats) says it expects its headline earnings and headline earnings per share (HEPS) to increase by between 49% and 69% year-on-year.
The miner says its headline earnings for the year ended December 31, 2020, are likely to be between R27.8-billion and R31.4-billion, compared with the headline earnings of R18.6-billion posted for the 2019 financial year.
HEPS, in turn, will likely increase to between R105.80 and R119.50, compared with HEPS of R70 reported for 2019.
Amplats attributed the increase in headline earnings to a 71% increase in the rand basket price year-on-year, while it was partially offset by the impact of Covid-19 on the company and the halt of production from the Anglo Converter Plant, owing to upgrades on both the Phase A and Phase B units during the year.