World number two platinum-miner Impala Platinum (Implats) on Friday reported a 9,9% increase in basic headline earnings per share for the year to June 2005 of 4 325 cents, from 3 924 cents in the group’s 2004 year.
The I-Net Bridge consensus forecast was for Implats to report basic headline earnings per share of 3 891 cents.
Analysts’ forecasts ranged from 3 770 cents to 4 004 cents.
Total gross refined platinum production declined by 5,8% to 1,848-million troy ounces from 1,961-million oz in 2004. Analysts had expected gross refined platinum output of 1,82-million oz.
The group declared a final dividend per share of 1 800 cents, up 13% from the 2004 final dividend per share of 1 600 cents. Implats’s total dividend per share for the year was 2 300 cents, up 9,5% from 2 100 cents in 2004.
The group was expected to declare a total dividend per share for the year of 2 055 cents.
Analysts’ forecasts ranged from 1 860 cents to 2 165 cents.
“The 2005 financial year was characterised by excellent safety and operational performances, particularly at Impala Platinum. Impala contributes 60% of production and has achieved a record production of 1,115-million oz of platinum, while holding unit cost increases to just 5,3%,” Implats CEO Keith Rumble said in a statement.
“A particularly pleasing part of our performance has been a steady increase in earnings, despite the continued pressure of the rand.
“Earnings in the second half of the 2005 financial year were 15% higher than the second half of 2004 financial year; but earnings in the second half of the 2005 financial were 70% higher than the first half of the 2005 year, providing some insight into the strength of the underlying business fundamentals,” he added. — I-Net Bridge