Implats profits to increase by 90pc
IMPLATS is expecting to see a gross profit increase of more than 90 percent to approximately R6 billion.
The platinum producer said in a trading statement on Thursday morning that the increase for the period ended December 31, 2019, is due to the higher rand platinum group metals basket price.
In the past six months palladium has been steadily increasing globally.
Since the start of this year, it has increased more than 22 percent.
Headline earnings and headline earnings per share for the period are expected to increase between 42 percent and 62 percent and between 32 percent and 50 percent respectively, compared to the six months ended December 31, 2018.
“Headline earnings are expected to be between R3,160 billion and R3,600 billion and HEPS will increase to between 408 cents and 465 cents per share,” the statement reads. —Bloomberg