Implats expects more than 20% drop in HEPS

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The platinum miner stated that its headline earnings per share (HEPS) and basic earnings per share (EPS) will likely be more than 20 per cent lower than the comparable figures of 142 and 145 cents per share respectively for the half year ended 31 December 2013.

“The decrease in the HEPS and EPS is primarily due to lower production from Impala Rustenburg, impacted by the ramp-up of operations to reach full capacity following the five-month strike during the second half of the financial year ended 30 June 2014,” [DATA IMP:Implats] said.

“The group’s production was further impacted by industrial action and safety stoppages at Marula and the precautionary closure of the Bimha mine at Zimplats.”

(READ MORE: Implats announces closure of Bimha mine)

The JSE-listed company indicated that a further announcement would be made once the Implats board of directors has a reasonable degree of certainty in providing forecast ranges for HEPS and EPS for the half year.

The group’s reviewed interim financial results for the period ending 31 December 2014 is expected to be released on 26 February 2015.

(WATCH VIDEO: Implats FY earnings fall 74%)

Implats recently posted a 74 per cent drop in full-year earnings due to the fact that most of its South African operations were hit by a five-month wage strike.