SA's Implats narrows HY loss by 70%

Implats, the world’s second biggest platinum producer, said diluted headline earnings per share (HEPS) narrowed to a loss of 21 cents per share in the six months ended December 2017.

FILE: Impala Platinum Mine in Rustenburg. Picture: implats.co.za

JOHANNESBURG - South Africa’s Impala Platinum (Implats) said on Thursday its first-half loss narrowed by 70% from a year earlier, helped by improved operational performance but was weighed down by a tax on its Zimbabwean unit.

Implats, the world’s second biggest platinum producer, said diluted headline earnings per share (HEPS) narrowed to a loss of 21 cents per share in the six months ended December 2017, from 71 cents per share in the year-ago period. This was in line with the company’s estimate.

HEPS is the main profit gauge in South Africa which strips out certain one-off items.