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

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JSE-listed Impala Platinum (Implats) 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.  Basic earnings for the period are expected to decrease by between 81% and 88% to between R4-billion and R6-billion and its earnings a share by between 82% and 88% to between R4.70 and R7.06.

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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