FRIDAY, 11.00AM:
GENCOR’s Impala Platinum has reported a 17% increase in atrtributable income to R205-million in the year to June following successful cost-control measures and increased revenues due to the rand’s weakness.
Earnings per share were up to 330c from 282c, while the the dividend increased to 110c from 100c. The results were considerably better than analysts had expected.
Implats MD Steve Kearney said containing costs below inflation indices and rand price increases for platinum resulted in a 55% increase in income from mining activities. He added that output had risen 5% to just over a million ounces, and that a further 5% production increase might be realised this year.