Impala Platinum posts 41% rise in earnings, reinstates dividend
CAPE TOWN – South Africa’s Impala Platinum Holdings Ltd (Implats) posted a 41% rise in half-yearly earnings on Thursday and reinstated dividends after higher metals prices boosted profits.
The platinum miner reported headline earnings per share (HEPS) of 436 cents for the six months ended Dec. 31, compared with 310 cents a year earlier. HEPS strips out certain one-off items and is the main profit measure in South Africa.
“Sustained operating performances from mining operations, together with robust rand PGM (platinum group of metals) pricing, offset short-term challenges associated with concentrator maintenance and constrained smelter availability, resulting in improved free cash flow and strong headline earnings,” Implats said.
Source: iol.co.za
