Amplats kicks off Anglo family results on Monday
Palladium’s strong run helped double Amplats’s headline earnings and triple its basic earnings
Anglo American Platinum (Amplats) is scheduled to release its 2018 financial year results on Monday ahead of sibling Kumba Iron Ore releasing its on Tuesday and its parent, Anglo American, on Thursday. Amplats said in a trading statement that its headline earnings per share (HEPS) were expected to about double and its basic earnings to more than triple. “The expected increase in headline earnings and basic earnings is primarily driven by a 13% increase in the rand basket price and improved operational performance,” the company said in its trading statement. The rally in platinum group metal (PGM) prices has made Impala Platinum the JSE’s best performer over the past three months, with a 56% gain, followed by Sibanye-Stillwater’s 54%, with Amplats in third place with a 48% gain.
Platinum group metals miners have been helped by a strong rise in the palladium price, which has increased its lead to trade at $1447.72/oz on Monday morning against gold’s $1323.56/oz. Platinum itself ...
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.