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Amplats expects half-year earnings to double

Citing higher metals prices and a stockpile gain of R1bn.

Anglo American Platinum (Amplats) on Tuesday said it expects half-year earnings to double, raising its outlook on higher metals prices and a stockpile gain of R1.0 billion.

Amplats, which previously flagged an 80% increase, said it now expects headline earnings per share (Heps) for the six months to June 30 of 2 671 to 2 924 cents per share, an increase of 108% to 128%, compared with 1 282 cents a year earlier.

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

Amplats will release its results on July 22.

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