Amplats revises earnings forecasts higher
JOHANNESBURG – Anglo American Platinum said on Tuesday it now expected its headline earnings per share for the year to December to jump 83 percent to 103 percent to between 2 715 cents and 3 010 cents per share from 1 482 cents the previous year.
Amplats, which will publish its results on February 18, had previously forecast headline earnings per share for the period to rise at least 20 percent.
"The expected increase in headline earnings and basic earnings is primarily driven by a 13 percent increase in the rand basket price and improved operational performance," it said on Tuesday.
The platinum producer said basic earnings for the period would include post-tax attributable net losses of R1.5 billion, including the impairment of the company’s associate investment in the Bafokeng Rasimone Platinum Mine (BRPM) joint venture with Royal Bafokeng Platinum and the loss on disposal of Union mine and MASA Chrome.
It said headline earnings in the period would include a post-tax attributable net gain of R0.5 billion, which included the re-measurement of deferred consideration relating to the Rustenburg disposal.
Basic earnings for the comparative period included attributable impairments after tax of R3.9 billion of which R0.8 billion impacted both basic earnings and headline earnings.
African News Agency (ANA)