Share

Amplats profit almost doubles

Johannesburg -  Anglo American Platinum, the world's largest producer of the precious metal, nearly doubled its first-half profit on Monday, helped by a weaker rand currency and higher sales.

Amplats said diluted headline earnings per share totalled 512 cents in the six months to end-June, compared with 272 cents a year earlier. Headline EPS, the main measure of profit in South Africa, excludes certain one-time items.

Amplats said the results were boosted by the weaker rand, which fell by about 17% during the reporting period.

The company said refined platinum output was unchanged a 1.2 million ounces following a wildcat strikes at its Rustenburg mines.

Labour relations in the mining industry have been strained since a flare-up of union rivalry last year turned into violent wage protests that killed more than 50 people.

Amplats, which is 80% held by resources giant Anglo American, plans to lay off up to 6 000 people as it closes three shafts and scales back production in a bid to return to profitability.
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.88
+0.3%
Rand - Pound
23.85
+0.2%
Rand - Euro
20.38
+0.2%
Rand - Aus dollar
12.32
+0.1%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders