Amplats is pleased to announce that headline earnings for the half year ending 30 June 2000 have more than doubled to R2 611,9 million. The increase in earnings exceeds 70% growth for the fifth consecutive reporting period. Whilst earnings have increased by 100,5%, dividends per share are up by 158,2% to 710 cents.
Gross sales revenue increased by R3 189,8 million to R7 132,5 million. Higher metal prices constituted R2 304,8 million of the increase, while higher sales volumes and the weaker rand contributed R615,2 million and R269,8 million respectively.
These exceptional results have been achieved despite flooding at some of the Rustenburg operations caused by the abnormally high rainfall in February, March and April and production interruptions at the Waterval Smelter.
The programme of expansions which will take Amplats' production output to 3,5 million ounces by 2006 is on schedule.
At current US dollar metal prices, assuming a stable rand and improved production performance earnings for the second half of the year are expected to exceed those reported for the first half.
A detailed overview of the interim results is available on the Financial Information section on this site. Issued by Group Public Affairs