RBPlat's earnings fall on lower production, inflationary pressures

24th February 2023 By: Creamer Media Reporter

Platinum group metals (PGMs) miner Royal Bafokeng Platinum (RBPlat) has informed shareholders that it is likely to post lower earnings per share (EPS) and headline earnings per share (HEPS) for the year ended December 31, mainly as a result of lower production and inflationary pressures.

It added that operational challenges at the Styldrift mine; a decrease in royalty income; higher than consumer price index inflation; and an increase in the income tax expense and the State royalty charge had impacted on its earnings for the year.

RBPlat expects to report EPS of R11.46 – a 50.9% decrease on the EPS of R23.32 reported for the 2021 financial year.

HEPS are expected to be R12.03 – a 48.2% decrease on the HEPS of R23.25 reported for the prior financial year.

RBPlat will publish its results on March 8.