This result compares with a profit of 53 cents in the six months to December 31 Implats noted.
Basic earnings per share (EPS) is expected to be a loss of between 48 and 58 cents per share compared to half year ended 31 December 2015 EPS profit of 31 cents.
The difference between EPS and HEPS for the six months to 31 December 2016 is primarily due to the insurance compensation received from the 14 Shaft fire incident in January 2016.
The major reason for the decline in HEPS from the comparative period is that the prior period included a tax credit due to a write-off of an amount owed by a debtor.
HEPS from continuing operations for the current year will be further negatively affected by 10 – 15 cents a share when the Group’s share of profit after tax from Impala Chrome is eliminated as “discontinued operations profit” due to the Group’s stake in this entity being up for sale.
The financial information on which this trading statement is based has not been reviewed and reported on by the external auditors of Implats. The Group’s reviewed interim financial results for the period ended 31 December 2016 will be released on 23 February 2017