Implats expects to swing into profit

South Africa’s Impala Platinum (Implats) said yesterday it expects to swing into profit this year boosted by higher sales, rhodium and palladium prices and improved performance at its Rustenburg operations.

It expects headline earnings per share (HEPS) of 406 to 440 cents for the year which ended June 30 versus a loss of 171 cents a year earlier, it said in a trading statement.

HEPS strips out certain one-off items and is the main profit measure in South Africa.

Implats said gross profit is expected to rise to R6,8 billion from a restated figure of R1,1 billion a year earlier.

Implats will release its annual results on September 5.

The results will also include those of its Zimbabwe-based operations at Zimplats. — Reuters.

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