Amplats is pleased to announce an increase in earnings of R291,1 million or 70,3% to R705,2m for the six months to December 1998 when compared to the same period last year. Dividends per share rose by 69,6% to 195 cents per share.
Gross sales revenue rose by R612,9 million or 21,7% to R3 440,6 million and other income by R24,5 million.
Cost of sales rose by 8,3% year on year. The cash operating cost per platinum ounce refined, net of all other metal revenue, declined to R837 from R1 035 last year. This is equivalent to a US dollar price for platinum of $140 at an exchange rate of R5,97 to the US dollar.
Amplats' MD Barry Davison said he was happy to report such good results: "What is pleasing are the results which are beginning to show from Operation Breakthrough, our project to improve operational performance. Improved efficiencies are now showing on the bottom line. The impact of Breakthroughis gaining momentum.
Amplats continues to pursue its strategy of growing the market for platinum group metals and expanding production to satisfy this growth. Expansion projects announced will increase platinum production to 2,25m ounces by 2002. Profits will be grown by increasing production and sales volumes, benefiting from economies of scale and enhancing margins through the success of Breakthrough."
For further information, contact
Johan Adler
Tel: (011) 373-6637
Cell: 083 627-3918