Implats to report lower H1 earnings
JOHANNESBURG (miningweekly.com) – Impala Platinum (Implats) on Monday said it expected to record lower interim earnings.
Headline earnings a share were expected to drop to between 53c and 77c during the six months to December – a 45% to 63% decline on the 142c reported in the comparative period the year before.
The company’s basic earnings a share for the period under review would be between 67% and 77% lower – at between 33c and 48c – than the 145c achieved in the first half of the prior year.
Implats had been hit by lower production from Impala Rustenburg, which was impacted by the ramp-up of operations to reach full capacity following the five-month strike, as well as industrial action and safety stoppages at Marula and the precautionary safety closure of the Bimha operation at Zimplats, which led to the impairment of property, plant and equipment.
In November, Impala Rustenburg reached prestrike production levels and Zimplats had implemented a recovery plan that mitigated the partial collapse at the Bimha operation.
Implats would publish its interim financial results on February 26.
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