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Johannesburg - Anglo American Platinum [JSE:AMS] said on Monday it expected significantly lower earnings for the first half of the year after a five-month strike crippled its operations.
Headline earnings per share for the six months to end-June is expected to decrease to between 20 cents and 80c from 514c reported for the six months ended 30 June 2013.
Basic earnings per share is expected to decrease to between 130c and 180c from 468c for the comparative period.
The group said in a trading statement that basic earnings for the period include a gain of R243m (equivalent to 93c per share) arising on the final phase of the refinancing transaction with Atlatsa Resources Corporation.
"The decrease in earnings is primarily due to the impact of the five month industrial action which impacted on operational performance," it said.
Headline earnings are the main profit gauge in South Africa and exclude certain one-off and non trading items.
The shares opened 33c lower on the JSE on Monday and was trading at R477.80 by 09:05.
The company will release its interim results on July 21.
Headline earnings per share for the six months to end-June is expected to decrease to between 20 cents and 80c from 514c reported for the six months ended 30 June 2013.
Basic earnings per share is expected to decrease to between 130c and 180c from 468c for the comparative period.
The group said in a trading statement that basic earnings for the period include a gain of R243m (equivalent to 93c per share) arising on the final phase of the refinancing transaction with Atlatsa Resources Corporation.
"The decrease in earnings is primarily due to the impact of the five month industrial action which impacted on operational performance," it said.
Headline earnings are the main profit gauge in South Africa and exclude certain one-off and non trading items.
The shares opened 33c lower on the JSE on Monday and was trading at R477.80 by 09:05.
The company will release its interim results on July 21.
