Implats - further trading statement
Implats will release results for the half year ended 31 December 2018 ("the period") on 28 February 2019.
Implats issued a trading statement on 4 February 2019 indicating that both headline earnings and basic earnings were expected to be at least R2.100 billion for the period. Implats indicated that headline earnings per share (HEPS) and basic earnings per share (EPS) for the period would be at least 292 cents per share. At that time, there was not sufficient certainty to provide specific guidance ranges, as required by the JSE Listing Requirements, for the expected results. Implats now has reasonable certainty about the earnings and therefore advises shareholders of the following expected earnings ranges.
Implats' headline earnings and HEPS for the period are expected to be between R2.213 billion and R2.243 billion and between 308 cents and 312 cents per share, respectively. Headline loss and headline loss per share for the six months ended 31 December 2017 ("comparative period") were R150 million and 21 cents per share, respectively.
Basic earnings and EPS are expected to be between R2.290 billion and R2.322 billion and between 319 cents and 323 cents per share, respectively, compared to a basic loss and a basic loss per share of R163 million or 23 cents for the comparative period, respectively.
As indicated in the trading statement issued on 4 February 2019, the improvement in safety and operational performances, particularly at the Impala Rustenburg operations, higher sales volumes and higher rand platinum group metals basket prices - due primarily to the weakening of the rand - were the major reasons for the increase in earnings. The financial information on which this trading statement is based has not been reviewed and reported on by the external auditors of Implats.