Implats warns of lower than expected half-year earningsImplats, the world's second-largest platinum producer, has warned of "lower than expected" earnings for the six months to end-December.
"Shareholders are advised that Implats' basic headline earnings per share (HEPS) and basic earnings per share (EPS) for the six months ended 31 December 2012 are expected to be between 120 and 138 cents, which is between 76 percent and 79 percent lower than that of the six months ended 31 December 2011," the firm said in a statement.
It said the expected decrease was "due to a decrease in mine-to-market throughput, above inflation cost increases and the impairment of long-term receivables of R603 million."
"Excluding the impairment of long-term receivables of R603 million HEPS and EPS would have been expected to be between 219 and 237 cents which is between 59% and 62% lower than that of the six months ended 31 December 2011," it added.
Implats releases its interim results on February 14.
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