Upbeat trading update lifts Anglo American Platinum's shares
The share price of Anglo American Platinum (Amplats) gained nearly 4% to R354.99 on Friday after it issued an upbeat trading statement.Amplats said it expected to report on July 23 that its interim headline earnings per share (HEPS) for the six months to end-June would be at least 20% higher than in the matching period.The platinum miner said the rise in earnings was "due to improved operational delivery across the company and a marginally higher achieved rand basket price".Parent Anglo American’s share price rose 4.26% to R308.52 on Friday morning.Fellow Anglo American subsidiary Kumba Iron Ore issued a trading statement on June 25 saying it expected to report on July 24 that its HEPS had declined by at least 20%.Kumba said it suffered because the rand was stronger against the dollar during the first quarter of 2018. Derailments by Transnet transporting iron ore along the Sishen railway line to Saldanha and lower international commodity prices had also hurt the company.Anglo Americ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.