The platinum company attributed the 15.6 per cent improvement in the basket price to a 33 per cent increase in earnings per share.
Royal Bafokeng Platinum Limited’s revenue rose from 1.5 billion rand in 2013 to 1.8 billion rand in 2014.
The group’s headline earnings per share (HEPS) rose from 87 cents per share in 2013 to 116 cents in 2014.
(READ MORE: Royal Bakokeng expects an increase in HEPS)
The company’s headline earnings rose to 207 million rand in 2014 from 143 million rand in 2013.
The company noted that the improved results were reported against the backdrop of escalating operating costs.
“Against the background of the widespread and protracted industry strikes, a hallmark of the [DATA RBP:Royal Bafokeng Platinum Limited] performance during the first six months of 2014 was operational stability,” said the company.
(READ MORE: Trust at the centre of platinum strike resolution)
“Business continuity contributed to a relatively steady production environment and ounce output compared to the corresponding period in the previous year.”
The company reported its revenue having increased by 18 per cent mainly due to a 15.6 per cent increase in the basket price to 21 148 rand per platinum ounce in the first half of 2014 compared to 18,294 rand in 2013.
The revenue was also aided by a 2.1 per cent increase in platinum ounces produced.
Royal Bafokeng is positive about the future growth prospects.
“The platinum market is forecast to continue to destock and this should lead to higher prices in future. However, for now there are stocks available and this may limit meaningful price increases in the near term.”