JOHANNESBURG (miningweekly.com) – Impala Platinum on Monday said it expects to post a headline loss a share of between 65c and 79c for the six months ended December 31, compared with a profit of 53c in the six months to December 31, 2015.
The company noted that the main reason for the decline in headline earnings per share (HEPS) is that the prior period included a tax credit as a result of a write-off of an amount owed by a debtor.
HEPS from continuing operations will further be negatively impacted by 10c to 15c when the group’s share of profit after tax from Impala Chrome is eliminated as “discontinued operations profit” owing to the group’s stake in this entity being up for sale.
Meanwhile, Implats also expects to report a basic loss a share of between 48c and 58c.
“The difference between basic earnings and headline earnings for the six months is primarily owing to the insurance compensation received from the 14 Shaft fire incident in January 2016,” the miner said in a statement.