JOHANNESBURG (miningweekly.com) – JSE-listed Royal Bafokeng Platinum (RBPlat) expects to report earnings per share (EPS) of between 81c and 92c and headline earnings per share (HEPS) of between 80c and 91c for the year ended December 31.
This compares with a loss per share of 1 589.2c and headline loss per share of 83.2c in 2015.
The increase in earnings is largely attributed to the net effect of a 9.8% increase in revenue, mainly as a result of a higher realised revenue basket price, combined with a nominal 0.6% increase in cost of sales.
“The improved earnings, combined with a strong cash flow contribution from on-reef development revenue at the Styldrift I project, in the North West, resulted in the group having a substantial cash balance at the end of the year,” the company said in a statement on Thursday.
Cash preservation continues to be a priority and RBPlat remains unleveraged with a robust balance sheet that positions it well for the next phase of Styldrift I’s ramp-up to a 150 000 t/m operation.
RBPlat expects to release its results on February 28.