HomeNewsIncreased first-half earnings for Angloplat

Increased first-half earnings for Angloplat

Anglo Platinum
“’ 2010 earnings on
the way up
 
Johannesburg, South Africa — MININGREVIEW.COM — 14 July 2010 – Anglo Platinum “’ the world’s largest platinum producer “’ says it expects to report increased first half earnings for 2010 on the back of higher metal prices.
 
A trading statement released here said headline earnings per share were expected to be between 1 011 cents and 1 044 cents for the half year to 30 June 2010, compared with the headline earnings per share of 164 cents (restated from 169 cents) for the half year to 30 June 2009.

Basic earnings per share for the half year were expected to be between 1 253 cents and 1 372 cents, compared with the basic earnings per share of 1 193 cents (restated from 1 144 cents) previously.

“The expected increase in headline earnings per share is primarily as a result of higher metal prices in the period,” Anglo Platinum said. The company added that the difference between the basic earnings per share and headline earnings per share for the first half of 2010 was attributable to the profit in respect of the sale of Anglo Platinum’s 37% interest in the Western Bushveld joint venture to Wesizwe Platinum.

Anglo Platinum said that the restated earnings for the half year to 30 June 2009 took into account the restatement of the profit on the disposal of 51% of Lebowa Platinum Mines and the pro forma increase in shares in issue as at the end of June 2009 and the end of December 2009, due to the impact of the bonus element of the R12.5 billion rights issue.

Anglo Platinum intends publishing its interim results on 26 July.

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