11 Feb 2013

Implats predicts plunge in profit

Reuters

Johannesburg - Platinum miner Impala Platinum Holdings [JSE:IMP] said on Monday first-half profit likely plunged by as much as 79%, hit by rising costs and lower output.

The world second-largest miner of the white metal also said the results were weighed by a R603m writedown on payments it is owed.

Implats said headline earnings per share would be between 120 and 138 cents, or 76% and 79% lower in the six months to end-December.

By 08:48 GMT, shares in the company fell 3.4% at R159.55, lagging behind a flat JSE Top 40 - (Tradeable) [JSE:J200] index

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