Implats expects considerably lower earnings owing to dollar metal price, logistics

JSE-listed Impala Platinum expects its headline earnings for the year ended June 30 to decrease by between 38% and 44% year-on-year to between R18-billion and R20-billion and its headline earnings a share to decrease by between 39% and 45% to between R21.17 and R23.52.

Implats says earnings for the period decreased primarily owing to lower revenue arising from an 18% lower achieved dollar metal price, partially offset by a 16% weaker rand. Cash costs continued to be negatively impacted by higher inflation and the impact of the weaker rand on the translated costs of Zimplats and Impala Canada.

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