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Implats sees fall in profit

Johannesburg - South African platinum miner Impala Platinum Holdings Ltd said on Monday first-half profit likely plunged by as much as 79 percent, hit by rising costs and lower output.

The world second-largest miner of the white metal also said the results were weighed by a 603 million rand ($68 million) writedown on payments it is owed.

File image: Reuters. Credit: REUTERS

Implats said headline earnings per share would be between 120 and 138 cents, or 76 percent and 79 percent lower in the six months to end-December.

By 10:48 SA time, shares in the company fell 3.4 percent at 159.55 rand, lagging behind a flat JSE top-40 index.

Headline EPS, the main profit measure in South Africa, strips out certain one-time items. - Reuters

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