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Johannesburg - Anglo Platinum [JSE:AMS], the world's top producer of the precious metal, said on Monday that first-half headline earnings are expected to increase slightly because of higher sales and prices.
The miner, majority-owned by Anglo American [JSE:AGL], said headline earnings per share for the six months to the end of June are expected to rise to between 1 131 and 1 336 cents from 1 028 cents the previous year.
Headline EPS are the main profit gauge in South Africa and strip out certain one-time items. "The expected increase in headline earnings is primarily due to higher rand prices achieved on metals sold and higher sales volumes," the company said in a statement.
The miner, which will report its results on July 25, has said it expects to refine and sell 2.6 million ounces of platinum this year.
But this output target could be threatened with the National Union of Mineworkers threatening a possible strike against the company.
The miner, majority-owned by Anglo American [JSE:AGL], said headline earnings per share for the six months to the end of June are expected to rise to between 1 131 and 1 336 cents from 1 028 cents the previous year.
Headline EPS are the main profit gauge in South Africa and strip out certain one-time items. "The expected increase in headline earnings is primarily due to higher rand prices achieved on metals sold and higher sales volumes," the company said in a statement.
The miner, which will report its results on July 25, has said it expects to refine and sell 2.6 million ounces of platinum this year.
But this output target could be threatened with the National Union of Mineworkers threatening a possible strike against the company.
