Implats expects 50% drop in full-year Heps
JOHANNESBURG (miningweekly.com) – Platinum miner Impala Platinum (Implats) on Friday advised its investors that headline earnings per share (Heps) for the 2013 financial year were expected to be between 50% and 55% lower than the Heps of 685c recorded in 2012.
The company’s Heps would likely be between 308c and 343c for the full year.
This was as a result of the operational performance of the company’s Rustenburg operations, above-inflation cost increases, and impairments of R1.3-billion of long-term receivables, Implats stated.
Further, basic earnings a share for the period ended June 30 were expected to be between 145c and 179c, which would be between 74% and 79% lower than that of the previous comparable period, which saw basic earnings of 690c a share.
In addition to the factors previously mentioned, Implats stated that the decrease in earnings a share was also owing to the about R1-billion write-down of goodwill resulting from the African Platinum acquisition in the 2007 financial year.
Implats’ results would be released on August 29.
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