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Implats expects annual profit helped by metals prices

Improvements in the Rustenburg operations also boosts profits.
Implats sees Heps between 406 and 440 cents from losses incurred last year. Picture: Nadine Hutton, Bloomberg

South Africa’s Impala Platinum (Implats) said on Thursday it expects to swing into profit this year boosted by higher sales, rhodium and palladium prices and improved performance at its Rustenburg operations.

It expects headline earnings per share (Heps) of 406 to 440 cents for the year which ended June 30 versus a loss of 171 cents a year earlier, it said in a trading statement.

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

Implats said gross profit is expected to rise to R6.8 billion from a restated figure of R1.1 billion a year earlier.

Implats will release its annual results on September 5.

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