Anglo American Platinum to Post Higher 2016 Earnings
06 February 2017 - 11:40PM
Dow Jones News
By Razak Musah Baba
LONDON--Anglo American Platinum Ltd. (AMS.JO) said Monday it
expects to post higher earnings in 2016, due in part to efficiency
gains from cost-cutting.
The South African platinum producer said headline earnings --
that excludes one-off items -- likely increased to between 1.64
billion South African rands ($121.4 million) and ZAR2.00 billion,
while headline earnings per share is expected to have increased to
between 625 cents and 760 cents a share.
This compares with headline earnings in the prior period of
ZAR107 million and HEPS of 41 cents per share.
Anglo American Platinum also said basic earnings is expected to
have increased to between ZAR550 million and ZAR670 million in 2016
and EPS to between 210 cents and 255 cents. This compares with a
loss in basic earnings in the prior year of ZAR12.125 billion and a
loss per share of 4,638 cents.
The increase in basic earnings in the period reflects
impairments, write-offs and higher restructuring costs in the
comparative period, Anglo American Platinum said.
Anglo American Platinum will publish its 2016 results on Feb.
15.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
February 06, 2017 07:25 ET (12:25 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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