[miningmx.com] — Anglo Platinum, the world’s largest platinum producer, on Tuesday said it expected to report increased first half earnings on the back of higher metal prices.
Headline earnings per share are expected to be between 1,011 cents and 1,044 cents for the half year to end June 2010, compared with the headline earnings per share of 164 cents (restated from 169 cents) for the half year to end June 2009.
Basic earnings per share for the half year are expected to be between 1,253 cents and 1,372 cents, compared with the basic earnings per share of 1,193 cents (restated from 1,144 cents) previously.
“The expected increase in headline earnings per share is primarily as a result of
higher metal prices in the period,” Anglo Platinum said in a trading statement.
The company said the difference between the basic earnings per share and headline earnings per share for the first half of 2010 is attributable to the profit in respect of the sale of Anglo Platinum’s 37% interest in the Western Bushveld joint venture to Wesizwe Platinum (WEZ).
It said the restated earnings for the half year to end June 2009 took into account the restatement of the profit on the disposal of 51% of Lebowa Platinum Mines and the proforma increase in shares in issue as at end June 2009 and end December 2009 due to the impact of the bonus element of the R12.5bn rights issue.
Anglo Platinum intends publishing its interim results on July 26.
At 12:00 shares in Anglo Platinum were trading 1.59% or R11.48 firmer at R731.99 on the JSE.
