RBPlat sees profits surge

Royal Bafokeng Platinum expects headline earnings per share for the six months to June to be more than 200 percent better than a year ago.

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Cape Town - Royal Bafokeng Platinum said on Wednesday that it expected headline earnings per share for the six months to the end of June to be more than 200 percent better than a year ago.

It says this key financial indicator should be 217.5-234.1 percent (71-81 cents per share) higher than the corresponding period's headline loss per share of 60.4 cents.

A statement from the mid-tier platinum group metals producer with operations in South Africa's North West province gave little detail.

In a market update in April, RBPlat reported an increase in tonnes delivered for the first quarter as a result of better recoveries and lower costs.

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RBPlat said, at the time, that the strong performance resulted from operational flexibility and stability underpinned by a sound strategy.

The company had fallen into a loss in its 2015 financial year, with a hefty impairment against its assets thanks largely to depressed prices. The full interim results are expected on August 1.

AFRICAN NEWS AGENCY

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