WEDNESDAY, 10.30AM:
ANGLO American Platinum Corporation (Amplats) reported a 9,5% drop in taxed income for the year to June as last year’s crippling strike at Rustenburg Platinum Holdings led to losses at the group’s main revenue earner.
The group also took a knock from increased costs at Lebowa Platinum Mines and Potgietersrust Platinum Mines. The average free market platinum price for the year, at $384, was 7% down on the previous year’s average. The recent sharp increase in the platinum price felt during the last two months of the year were too little too late to boost revenue.
Amplats’s net income before tax fgell 10% to R359-million, based on an R88-million decline in earnings from the group’s three platinum mines. Group earnings a share fell to 162,8c from 190,3c. Last year’s R1,20 dividend was maintained.
BUSINESS BRIEFS
SARS BILL ACCEPTED THE SA Revenue Service Bill was on Tuedsay approved in principle by all parties in Parliament. Parliament’s finance committee will discuss the Bill again next week. The Bill aims to give SARS administrative independence from the rest of the public service.
JO’BURG CHEAPEST JOHANNESBURG is the world’s cheapest large city, according to the latest biannual cost-of-living rankings by the Swiass Corporate Resources Group. The survey is based on the cost of a basket of 200 products and services. Toky, Hong Kong and Moscow came out as the most expensive cities. Cairo was Africa’s most expensive city, followed by Brazzaville. Harare followed Johannesburg as Africa’s second cheapest city.
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