Impala Platinum Fiscal Year 2017 Net Profit Hit by Impairment Charge

Date : 14/09/2017 @ 16:24
Source : Dow Jones News
Stock : Impala Platinum Holdings Ltd. (QX) (IMPUY)
Quote : 2.625  0.0651 (2.54%) @ 08:04
Impala Platinum Holdings Ltd. (QX) share price Chart

Impala Platinum Fiscal Year 2017 Net Profit Hit by Impairment Charge

Impala Platinum Holdings Ltd. (QX) (USOTC:IMPUY)
Historical Stock Chart

3 Months : From Aug 2017 to Nov 2017

Click Here for more Impala Platinum Holdings Ltd. (QX) Charts.

By Ian Walker

 

Impala Platinum Holdings Ltd. (IMPUY) reported on Thursday a much widened net loss for fiscal 2017 after booking a large impairment.

The platinum group metals miner made a net loss of 8.22 billion South African Rand ($0.63 billion) compared with a loss of ZAR70 million, on revenue of ZAR36.84 million compared with ZAR35.93 million. It booked an impairment of ZAR10.23 billion in the year compared with ZAR307 million for the year ended June 30, 2016.

Gross refined platinum production for the year increased 6.4% to 1.53 million ounces, the company said. It added that within this, production at the Impala Rustenburg mine was disappointing, with output below original targets, and that production volumes at Marula were also below target due to community disruptions.

However, it said a restructuring review is underway for a return to profitability under new normal pricing environment.

 

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

 

(END) Dow Jones Newswires

September 14, 2017 02:09 ET (06:09 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
Your Recent History
FX
EURAUD
Euro vs Au..
FX
USDAUD
US Dollar ..
ASX
WPL
Woodside
NASDAQ
AAPL
Apple
ASX
BHP
BHP Bilito..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:40 V:au D:20171118 10:30:27