Amplats boosted by operational delivery improvements

Anglo-American Platinum (Amplats) shares rose on Friday on the back of a favourable trading update for the six months to end June.

Anglo-American Platinum (Amplats) shares rose on Friday on the back of a favourable trading update for the six months to end June, with headline earnings per share expected to increase by at least 20 percent, or 57 cents a share, compared to last year, on account of company-wide operational delivery imorivements.

“Anglo American Platinum advises its shareholders, with reasonable certainty, that due to improved operational delivery across the company and a marginally higher achieved rand basket price, headline earnings and headline earnings per share for the period will be at least 20 percent, that is R150 million or 57cents per share, higher than that reported for the six months to the end of June 2017,” the group said.

Amplats is a member of Anglo American plc and is the world’s leading primary producer of platinum group metals (PMGs). Headquartered in Johannesburg, the firm employs around 30,000 people. Ian Botha was appointed as finance director in May 2015, after serving as Group Financial Controller of Anglo American plc, a position he held since November 2009. 

Last year the group reported headline earnings of R747 million, as well as headline earnings per share of 285 cents. It reported basic earnings and earnings per share were a loss of R1.19 billion and a loss of 453 cents respectively.

On Friday the group said that it anticipated an improvement in its basic earnings and basic earnings per share.

“Basic earnings and basic earnings per share will also be at least 20 percent, that is R238 million or 91 cents a share, higher than the comparative period due to impairments in the comparative period," the group said.