JSE-listed Northam Platinum expects to post a record operating profit of between R2.9-billion and R3.1-billion for the six months ended December 31.
This was on the back of the company having produced a record 306 738 oz of platinum, palladium, rhodium and gold, which was 19.6% higher year-on-year, while a higher basket price also bolstered operating profit.
Northam expects to report headline earnings a share of between 326c and 330c for the six months under review, compared with a headline loss a share of 19c in the prior comparable six-month period.
The company says its normalised headline earnings – adjusted for the impact of Northam’s black economic empowerment transaction – will be more than R1.8-billion in the period under review, compared with R553-million in the prior comparable period.
Northam will publish its results on February 28.