platinum
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JSE-listed Implats’ HEPS for the year ended 30 June 2017 is expected to be a loss of between 125 and 150 cents per share compared to y-o-y of 12 cents.

Impala Platinum (Implats) basic earnings per share (EPS) is expected to be a loss of between 1 030 and 1 235 cents per share compared to the year ended 30 June 2016 EPS loss of 10 cents.

The difference between EPS and HEPS for the year ended 30 June 2017 is due to the impairment of a royalty prepayment at year end.

The major reason for the decline in HEPS from the comparative period is that the prior year gross profit declined to a gross loss in the current year.

In addition, the income tax credit was significantly negatively affected by both an increase in additional profits tax for Zimplats in the current year and a non-recurring tax credit on a bad debt in the prior year.

The financial information on which this trading statement is based has not been reviewed and reported on by the external auditors of Implats.

Reviewed financial results for Implats for the period ended 30 June 2017 will be released on 14 September 2017.

Feature image credit: Wikimedia