Implats full-year underlying headline earnings back to 2012 levels

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

United States News News

Implats advises investors to expect profits coming from higher metal prices, improved operational performances and increased sales

Impala Platinum , the world’s third-largest platinum miner, will post its highest underlying headline earnings since 2012, fueled by higher metal prices and an operational turn around at its main Rustenburg mines.

To determine the underlying headline earnings per share by adding in the R1.56bn or 217c/share non-cash expense, related to a valuation of the dollar bond conversion exercise completed in July, would give a measure that could be applied to previous years, said spokesperson Johan Theron. For shareholders, who experienced negative headline earnings in the past two financial years, it is an indication that Implats has turned a corner on revitalising its core Rustenburg assets just in time to catch this year’s upturn in palladium and rhodium prices.

SA’s platinum miners generate a basket of six platinum group metals and the two best performers have been palladium and rhodium, both used mainly to make automotive catalytic converters in petrol-powered engines.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Long journey ahead to regain market share, says AbsaBank achieves its goal of growing half-year revenue in line with competitors but downgrades its full-year profit outlook
Source: BDliveSA - 🏆 12. / 63 Read more »

Curro’s half-year earnings soar as student intake growsThe company says its estimated investment on expansion and replacement of assets is R1bn for 2019
Source: BDliveSA - 🏆 12. / 63 Read more »