Johannesburg - Northam Platinum [JSE:NHM] swang into first half profit buoyed by higher output after recovering from a protracted strike and a weaker rand that increased its earnings.
Northam, the world's third largest platinum producer by market value, said headline earnings per share for the six months to December were 89.4 cents from a loss of 25c a year ago, but warned of the impact on output due to power shortages.
Northam said the outlook for metal prices was subdued, but a weaker rand could offer South African producers further relief. However, it said it was concerned about power shortages.