• Three cheers for Thuli

    Where are South Africa’s men and women of honour, asks Mandi Smallhorne.

  • Structure your pension

    An expert explains the ins and outs of different types of retirement annuities.

  • Inside Labour

    Without radical policy change SA's social fabric will continue to fray, says Terry Bell.

Data provided by iNet BFA
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 94.45
Change -1.8
% Change -0.02
Cumulative volume 1825657
Market cap 59.71bn

Last Updated: 01/09/2014 at 04:28. 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

“Hippie sense makes business sense,” an entrepreneur said, adding that "purpose" was core to success.
 

Money Clinic

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