JOHANNESBURG - Impala Platinum (Implats) said on Thursday it expects to report headline earnings of between R2.9 billion and R3.1 billion for the year ended 30 June 2019, up from a R1.2 billion headline loss the previous year.
Headline earnings per share (HEPS) are expected to be between 406 cents and 440 cents per share, a significant increase from HEPS loss of 171 cents per share in the comparative period.
Implats said the earnings increase was due to a higher realised rand platinum group metals (PGM) basket price, due to a weaker rand and stronger dollar pricing for rhodium and palladium, partially offset by a weaker dollar platinum price.
The world's second biggest platinum producer also said improved operational performance, particularly at the Impala Rustenburg operations; and higher sales volumes, had also contributed to higher earnings for the year.
As a result, gross profit for the period is expected to increase from R1.1 billion in the comparative period to R6.8 billion in the current period.