Northam withholds dividend despite 67% profit growth | Business

Despite a surge in interim earnings, Northam Platinum Holdings has opted not to declare a dividend as it builds its arsenal for growth aspirations.

Northam's results were buoyed by a strong operational performance and increased production. Operating costs were however 27% higher for the period under review. The competition between Northam and Implats for a controlling share in RBPlat has proved intense and protracted. Implats - which first moved to acquire a controlling share in late 2021 - has indicated that continued delays in closing its competing offer to RBPlat shareholders may force it to walk away from the deal.

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