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Royal Bafokeng earnings up on sales, cost cuts

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Johannesburg - Royal Bafokeng Platinum said on Tuesday full-year earnings rose 38%, due to higher sales, cost cuts and as currency weakness lifted the rand price of its metals.

The mid-tier producer said in a statement that headline earnings per share for the year to December totalled 239 cents, the middle of the range it had flagged to the market, from 173c a year ago.

Although the price of platinum fell about 13% last year, Royal Bafokeng said a weakening in the rand against the dollar meant the average price of its metals rose 10.7% in the period.

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Rand - Dollar
19.04
-0.7%
Rand - Pound
24.02
-0.5%
Rand - Euro
20.53
-0.3%
Rand - Aus dollar
12.36
-0.1%
Rand - Yen
0.13
-0.7%
Platinum
900.15
+0.4%
Palladium
1,000.00
-0.2%
Gold
2,212.54
+0.8%
Silver
24.59
-0.2%
Brent Crude
86.09
-0.2%
Top 40
68,189
+0.8%
All Share
74,373
+0.6%
Resource 10
57,035
+2.5%
Industrial 25
103,662
+0.4%
Financial 15
16,492
-0.2%
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