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Royal Bafokeng Platinum announces production increases while earnings drop

Royal Bafokeng Platinum (RBPlat) announced that while its production increased by 4.5 percent, it estimates that its headline earnings per share (Heps) and estimated basic earnings per share (Eps) would decrease. Picture: Simphiwe Mbokazi.

Royal Bafokeng Platinum (RBPlat) announced that while its production increased by 4.5 percent, it estimates that its headline earnings per share (Heps) and estimated basic earnings per share (Eps) would decrease. Picture: Simphiwe Mbokazi.

Published Jul 29, 2022

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Royal Bafokeng Platinum (RBPlat) announced that while its production increased by 4.5 percent, it estimates that its headline earnings per share (Heps) and estimated basic earnings per share (Eps) are set to decrease.

In a statement, the group said the company told its shareholders that estimated Eps for the six months ended June 30, 2022 amounts to 765.4 cents, a decrease of 58.4 percent, compared to basic EPS of 1 840.2 cents for the previous corresponding period.

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“Estimated Heps amounts to 767.3 cents, a decrease of 58.1 percent, compared to HEPS of 1 831.9 cents for the previous corresponding period,” it said.

RBPlat said the decline was mainly due to the decrease in the PGM basket price; decrease in the Impala royalty income; on-mine inflation being higher than CPI, and an increase in income tax expense and the state royalty charge following the depletion of the unredeemed capital allowance balance.

RBPlat said it was in the process of finalising its financial results for the six months ended June 30, 2022 and plans to release them on August 2.

BUSINESS REPORT ONLINE

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