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JOHANNESBURG (miningweekly.com) – Higher sales volumes and higher basket prices are expected to boost JSE-listed Royal Bafokeng Platinum’s (RBPlat’s) year-end earnings.
The platinum producer said in a statement on Thursday that its earnings per share (EPS) and headline earnings per share (HEPS) for the year ended December would reach between 160c and 180c.
This compared with the reported EPS and HEPS of 104c for the previous corresponding period.
“The expected increase in EPS, HEPS and normalised EPS is primarily [owing] to higher sales volumes and higher rand basket prices [as a result of] the rand weakening against the dollar in 2013 compared [with] 2012, as well as good cost containment resulting from improved mining flexibility and specific cost reduction strategies,” RBPlat said.
The company expected normalised EPS to be between 200c and 220c for the year under review, up from the 142c reported the year before, after adjusting for an additional amortisation and depreciation charge related to a fair value adjustment.
RBPlat expected to release its finalised financial results for 2013 on March 4.