Loading...
See More

Implats expects 50% drop in profit

Aug 16 2013 13:25 Reuters
Platinum bars

Platinum bars. (Shutterstock)

Company Data

IMPALA PLATINUM HOLDINGS LIMITED [JSE:IMP]

Last traded 0
Change -0,06
% Change 0
Cumulative volume 43184
Market cap 54.08bn

Last Updated: 24-11-2014 at 09:35. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Implats predicts plunge in profit

NUM seeks up to 60% Implats pay hike

Implats earnings plunge 78%

Implats hit by illegal strike

Implats Zim deal in jeopardy

Zimplats reports reduced revenues

 
Johannesburg - Impala Platinum Holdings [JSE:IMP] said on Friday its full-year earnings likely halved, hit by poor performance at its Rustenburg mine and after it was forced to write down the value of some assets.

Impala, the world's second-largest producer of the precious metal, said in a trading statement headline earnings likely totaled between 308 cents and 343 cents in the year to end-June, from 685 cents a year earlier.

Headline earnings per share (Heps), the main measure of profit, excludes certain on-time items.

Impala said it was hit by R2.3bn ($230m) in write-downs during the financial year, including a R1bn reduction in the value of African Platinum, which it acquired in 2007.

Impala's Rustenburg operations were crippled by a strike in early 2012.

The company is due to release its results on August 29.

Shares were up 2.9% at R109.35 at 12:24, in line with Johannesburg's index of platinum companies, which was also up more than 2%.
 
impala platinum  |  earnings
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 
 

BMW drift battle: M235i vs. speedway bike

Watch this insane drift contest with four-times dirt-track World champion Karl Maier riding a speedway bike against a BMW M235i.

 
 

Men24.com

Want to start talking dirty?
Everyday struggles of naturally skinny guys
And this year's Miss Bumbum title goes to...
How to maintain your mo, bro

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...