Implats expects annual profit helped by metals prices

15 August 2019 - 11:27 By Reuters
Impala Platinum Mine in Rustenburg.
Impala Platinum Mine in Rustenburg.

Impala Platinum (Implats) said on Thursday it expects to swing into profit this year boosted by higher sales, rhodium and palladium prices and improved performance at its Rustenburg operations.

It expects headline earnings per share (HEPS) of 406 to 440 cents for the year which ended June 30 versus a loss of 171 cents a year earlier, it said in a trading statement.

HEPS strips out certain one-off items and is the main profit measure in South Africa.

Implats said gross profit is expected to rise to 6.8 billion rand from a restated figure of 1.1 billion rand a year earlier.

Implats will release its annual results on September 5.