Anglo Platinum expects higher basic earnings

3rd February 2011 By: Petronel Smit

JOHANNESBURG (miningweekly.com) – JSE-listed Anglo Platinum (AngloPlat) expects its 2010 basic earnings a share to increase to between 3 788c and 4 035c a share from 1 234c a share in 2009.

This is higher than the range published in its January trading statement.

The world’s largest platinum producer on Thursday reported that the change to basic earnings a share resulted from the revaluation of an interest in a joint venture.

However, this adjustment has had no impact on cash flows or headline earnings a share for the year ended December 2010, and the range of between 1 907c and 1 965c a share published in January remained unchanged.

AngloPlat’s share price jumped to R736,94 a share at 11:00 on Thursday, a R16,59 a share increase from Wednesday’s closing price of R720,35 a share.

The company would publish its audited results on Monday.