Royal Bafokeng Platinum (RBPlat) expects headline earnings per share to soar between 196.2% and 209.4% in the year ended December 2016, compared with a headline loss per share in 2015. The group says the expected increase is largely attributable to a 9.8% jump in revenue, mainly as a result of a higher realised basket price, combined with a nominal 0.6% increase in the cost of sales. But the market seemed unimpressed, with the stock falling 3.54% by the close on Thursday. "The … announcement was disappointing … and came in below market expectations," Mish-al Emeran, an equity analyst at Electus Fund Managers, said on Thursday, implying a disappointing operational performance during the second half of the financial year. RBPlat said on Thursday that the rise in headline earnings per share was affected by the 2015 one-off current and deferred tax charge related to the settlement of a tax dispute and also the one-off housing project tax credit accounted for during 2016. But it also sai...
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