Impala Platinum Holdings Limited (Implats) has announced a preliminary trading statement on its production for the year ended 30 June 2020, in which it referred to a significant increase in the dollar basket price for PGMs. This, together with rand depreciation, has resulted in a higher rand PGM basket price received by the Group during the period.
Consequently, Implats is expecting headline earnings for the period, to be significantly more than 20% higher than that reported for the year ended 30 June 2019. Headline earnings for the comparative period were R3 038 million.
Basic earnings and basic earnings per share (“EPS”) are also expected to be significantly more than 20% higher than the comparative period primarily due to the improvement in rand PGM pricing. Basic earnings and EPS in the comparative period were R1 471 million and 205 cents respectively.
Implats will publish a further trading statement, for the period under review, closer to the release of its annual financial results on or about
3 September 2020.
The financial information on which this trading statement is based has not been reviewed and reported on by the external auditors of Implats.