Impala Platinum says earnings will be lower
Impala Platinum advised that its headline earnings per share (HEPS) for the year to June are expected to be between 308c and 343c which is between 50% and 55% lower than last year when earnings were 685c.
This is because of the operational performance at Impala Rustenburg‚ above-inflation cost increases and impairments of R1.3bn of long-term receivables.
Basic earnings per share are expected to be between 145c and 179c which is between 74% and 79% lower than the previous period.
The expected decrease is a result of these factors as well as the write-down of about R1bn in goodwill resulting from the African Platinum acquisition concluded in 2007.
Impala's results will be released later this month.