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Amplats expects lower FY HEPS, but higher EPS

1st December 2014

By: Creamer Media Reporter

  

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JOHANNESBURG (miningweekly.com) – Anglo American Platinum (Amplats) expects to report lower headline earnings and headline earnings per share (HEPS) for the year ended December 31, mainly as a result of the five-month strike in the platinum sector.

Headline earnings and HEPS were likely to be 20% lower than the R1.45-billion and R5.56 a share reported in 2013.

Basic earnings and basic earnings a share for the full-year were, however, likely to be at least 20% higher than that recorded in the prior year. Amplats had reported a basic loss of R1.37-billion and a loss a share of R5.25 for 2013.

Basic earnings for the period included a gain of R243-million arising on the final phase of the refinancing transaction with Atlatsa Resources and the scrapping of assets of R257-million following the closure of the Union mine south decline section.

Amplats’ results for the full year would be published on February 9.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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