Implats’ interim earnings to rise on higher PGM prices
JSE-listed Impala Platinum (Implats) expects its headline earnings and headline earnings per share (HEPS) for the half-year ended December 31, to be between 42% and 62% and between 32% and 50% higher, respectively, year-on-year.
Headline earnings are expected to be between R3.16-billion and R3.6-billion and HEPS will increase to between 408c and 465c, compared with the headline earnings of R2.23-billion and HEPS of 310c reported for the six months ended December 31, 2018.
Basic earnings and basic earnings per share (EPS) are expected to increase by between 37% and 57% and between 27% and 46%, respectively, year-on-year.
Basic earnings are expected to be between R3.17-billion and R3.63-billion and EPS at between 409c and 469c, compared with the earnings of R2.31-billion and EPS of 321c reported for the prior comparable period.
Despite sales volumes for the period being lower than in the prior comparative period owing to the impact of ongoing planned smelter maintenance on refined production, gross profit is expected to increase by more than 90% to about R6-billion, primarily owing to the higher rand platinum group metals (PGMs) basket price.
This increase was partially offset by the one-off expense of R509-million, or 66c a share, relating to the incentivised early conversion of the dollar convertible bonds during the period; restructuring costs of R238-million, or 31c a share; and higher taxation charges owing to improved profitability.
Further, in the comparative period, earnings included the nontaxable income from Zimplats of export incentives of R417-million, or 58c a share, which did not recur in the current period.
Implats will release its interim results on February 27.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation