Anglo American Platinum is now reasonably certain that basic and headline earnings for the year ending 31 December 2012 (“the period”) will decrease by more than 20% from that reported in the year ended 31 December 2011 (“the comparative period”).
However, in view of volatility in exchange rates, metal prices and the impact of the current illegal industrial action, Anglo American Platinum cannot, with reasonable certainty, quantify the extent of the decrease in expected earnings other than that the decrease is expected to be more than 20%.
Headline earnings and basic earnings reported for the comparative period were R3,566 million and R3,591 million respectively while headline earnings per share (“HEPS”) and earnings per share (“EPS”) were R13.65 and R13.74 respectively.
The expected decrease in earnings is primarily as a result of lower sales volumes, the impact of the illegal industrial action on production and cost, higher mining inflation and lower metal prices achieved compared to the comparative period.
Shareholders are advised that a further trading statement will be issued in due course to provide earnings forecast ranges for earnings per share and headline earnings per share as required by the JSE Listing requirements.
The forecast financial information on which this trading statement is based has not been reviewed and reported on by the Company’s external auditors.
The results for the period will be released on SENS on or about 4 February 2013.