Amplats’ shares drop

Comment on this story
IOL BR mining PIC001 REUTERS File image: Reuters

Shares of Anglo American Platinum, or Amplats, drop 2 percent to 489.00 rand after the world's biggest platinum producer warned it expects to fall to a full-year loss, hit by lost production from a two-month strike.

Amplats says in a trading statement it expects a headline loss of 491 to 628 cents per share for the year to end-December, compared with a profit of 1,365 cents a year earlier.

A poll of 10 analysts by Thomson Reuters had forecast earnings of 190 cents per share for diluted headline EPS, meaning the market had expected the company to eke out a small profit for the full year.

Amplats is the biggest negative contributor to South Africa's Top-40 index , which has just edged to a record high in early trade. - Reuter

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines