Platinum group metals (PGMs) miner Impala Platinum (Implats) expects its basic earnings for the financial year ended June 30 to decrease by between 29% and 35% year-on-year, to between R30.5-billion and R33.5-billion, while its earnings a share for the period are expected to decrease by between 33% and 39% to between R36.69 and R40.30.
In the previous financial year, Implats’ basic earnings of R47-billion and earnings a share of R59.96 benefited from the reversal of impairment losses on property, plant and equipment and the prepayment of royalties of R10.6-billion or R13.52 a share (post-tax).