The [DATA AMS:Anglo American Platinum Limited] through a trading statement update attributed the expected drop to the five month industrial action of last year.
(READ MORE: Anglo American battered by platinum strike)
“The group’s headline earnings per share are likely to decrease to between 250 cents and 335 cents for the twelve months ended 31 December 2014,” read the company statement on SENS.
“The group’s headline earnings for the period are likely to decrease to be between 650 million rand and 875 million rand.”
According to the company, this compares to headline earnings and HEPS of 1.4 billion and 556 cents per share respectively reported for the 12 months ended 31 December 2013, as released on SENS on 3 February 2014.
“The decrease in headline earnings and HEPS is primarily due to the impact of the five month industrial action which impacted on operational performance,” said the group.
The company also said, basic earnings and basic earnings per share for the period however, are likely to increase to be between 495 million and 705 million and 190 cents and 270 cents per share respectively.
Basic earnings and EPS reported for the comparative period for the twelve months
ended 31 December 2013 were a loss of 1.3 billion and 525 cents per share respectively.
(READ MORE: Strikes put Anglo American platinum in the red)
Basic earnings for the period include a gain of 243 million arising on the final phase of the refinancing transaction with Atlatsa Resources Corporation, an impairment of an investment in an unlisted associate of 168 million rand and the scrapping of assets of 294 million rand, after tax and minority interest following the closure of the loss-making Union Mine south decline section.
Basic earnings reported for the 12 months ended 31 December 2013 included the scrapping of assets of 2.2 billion, after tax, and 833 million rand loss arising from the acquisition of properties as part of the refinancing transaction with Atlatsa Resources Corporation.