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Northam Platinum FY profit soars

Higher metal prices, low costs and ‘solid’ performance helps miner.
Northam Platinum's normalised Heps increases to 270.1 cents for the year ended 2019. Picture: Waldo Swiegers, Bloomberg

South Africa’s Northam Platinum said on Friday its annual profit soared, underpinned by a surge in metal prices, improved performance and low costs.

Normalised headline earning per share (Heps) for the year ended June 30 surged to 270.1 cents ($0.18), from 82.7 cents during a year-ago period.

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

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