Anglo American Platinum Sees Lower 1st Half Earnings Due to Adverse Forex
June 27 2017 - 6:19AM
Dow Jones News
LONDON--Precious metals producer Anglo American Platinum Ltd.
(AMS.JO) said Tuesday it expects at least a 20% drop in earnings
and earnings per share for the first six months of this year as its
profits have been negatively affected by currency exchange
rates.
The Johannesburg-listed miner said headline earnings for the six
months ended June 30 will be 329 million South African rand ($24.8
million) compared with ZAR1.65 billion for the same period a year
earlier. Headline earnings per share will be 126 cents a share for
the first six months of this year, compared with 629 cents a year
earlier.
The miner said its basic earnings and basic earnings per share
would also be at least 20% lower at ZAR312 million or 118 cents per
share during the half year compared with ZAR1.54 billion and 589
cents respectively.
The expected decrease in headline earnings and basic earnings is
primarily a result of the stronger rand, the company said.
Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
June 27, 2017 06:04 ET (10:04 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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