Anglo Platinum’s earnings exceeded US$1 billion for the first time in the Group’s history. Earnings are up 165,6% on last year and, on a six monthly basis, earnings for the second half of the year are up 222,2% when compared to the equivalent period last year. This sustained growth is indicative of the strength of the company and the continued positive fundamentals for platinum group metals.
Financial highlights show an increase in headline earnings for the year from R2 604,5 million to R6 795,3 million. Cash holdings increased from R2 214,5 million at the end of December 1999 to R6 122,8 million. The final dividend is up from 425 cents per share last year to 1100 cents per share this year. In addition, the company declared a special dividend of 600 cents per share.
These exceptional results have been achieved despite flooding at some of the Rustenburg operations caused by abnormally high rainfall in the first quarter of the year and production interruptions as a result of the strike in the second half of the year.
The programme of expansions, which will take Anglo Platinum’s production output to 3,5 million ounces by 2006 at a cost of R12,6 billion (in 2000 money terms) and which will create 13 000 jobs, remains on schedule.
By continuing with its strategy of developing the market and expanding its operations to take advantage of the increased demand, Anglo Platinum is ideally placed to continue to strengthen its position as the world’s leading platinum producer.
For further information, please contact
Mike Mtakati
Tel : (011) 373-6865
Cell: 082 805 6515