Impala Platinum Expects Fall in Fiscal Year 2022 Basic Earnings After Prior Year Boosted by One-Offs

By Kyle Morris

Impala Platinum Holdings Ltd. said Friday that basic earnings for fiscal 2022 are expected to decrease between 29% and 35% to between 30.5 billion South African rand and 33.5 billion South African rand ($1.84 billion-$2.02 billion) after the prior-year period benefited from one-offs.

The precious-metals mining company said earnings per share are expected to decrease by between 33% and 39%, to between 3.669 rand cents and 4.030 rand cents.

Implats said gross refined volumes in the fiscal year declined by 5.6% to 3.09 million 6E ounces.

Gross concentrate volumes fell to 3.17 million 6E ounces from 3.29 million 6E ounces a year earlier, the company said.

Sales volumes were 3.15 million 6E ounces, compared with 3.27 million 6E ounces, it said.

Revenue per 6E ounce sold is expected to decline by 4.5% to ZAR37,703, reflecting the impact of weaker dollar pricing, it said.

Write to Kyle Morris at [e-mail]

(END) Dow Jones Newswires

August 05, 2022 02:47 ET (06:47 GMT)

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