[miningmx.com] – AN increase in metal inventories and higher production would help Anglo American Platinum (Amplats) to headline share earnings of up to 950 cents for the half-year ended June 30 compared to 60c/share in the previous period.
In a trading statement published on Johannesburg’s Stock Exchange News Service, the Anglo American subsidiary said a physical count of in-process metals resulted in an after-tax gain of R1.57bn equal to 600c/share.
Last year’s interim figures were also heavily affected by the five-and-a-half month strike by the Association of Mineworkers & Construction Union. A weakening in the rand against the dollar was also “partially offset by sharply weaker pricing,” Amplats said.
Basic earnings and earnings per share for the interim was also likely to increase to between R2.4bn and R2.48bn, an increase of between 459% and 478% year-on-year.
Amplats is scheduled to report its interim figures on July 20, it said.
