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Amplats expects profit jump on higher metals prices

Results due in February.
Heps for 2019 are expected to rise to between R66.89 and R72.65 per share, up as much as 151% from R28.93 the previous year. Image: Supplied

Anglo American Platinum (Amplats) expects full-year profits to more than double helped by higher metals prices and steady operational performance despite power cuts, it said on Tuesday.

Headline earnings per share (Heps) for 2019 are expected to rise to between R66.89 and R72.65 per share, up as much as 151% from R28.93 the previous year.

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

Amplats said it had lost 38 000 PGM ounces and deferred refined production of 89 000 PGM ounces to be refined in 2020 due to power outages at utility Eskom.

Eskom implemented nationwide power cuts last year which have continued this month.

Read: Record blackouts force South Africa miners to halt work

Amplats will release its results on February 17. 

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