Anglo Platinum Sees First-Half Profit Rising at Least 20%Andre Janse van Vuuren
Anglo American Platinum Ltd., the world’s largest producer of the precious metal, said first-half profit will climb at least 20 percent after it recovered from a five-month strike a year earlier.
“The increase in headline earnings and basic earnings is primarily due to the improvement in operational performance following the protected industrial action in the comparative period,” the Johannesburg-based company said in a statement Monday. It wasn’t yet able to provide more detailed figures.
Earnings will gain at least 31 million rand ($2.5 million), or 12 cents a share, from the 157 million rand, or 60 cents, reported a year earlier, the producer said. The stock fell 1.8 percent to close at 289.88 rand in Johannesburg.
The strike at the South African operations of the world’s three biggest platinum producers from January to June last year shut operations, crippling output.
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