{"id":12548,"date":"2012-07-19T00:59:43","date_gmt":"2012-07-18T22:59:43","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/update-1-amplats-warns-of-78-pct-drop-in-h1-earnings\/"},"modified":"2012-07-19T00:59:43","modified_gmt":"2012-07-18T22:59:43","slug":"update-1-amplats-warns-of-78-pct-drop-in-h1-earnings","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-amplats-warns-of-78-pct-drop-in-h1-earnings\/","title":{"rendered":"UPDATE 1-Amplats warns of 78 pct drop in H1 earnings"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Amplats says earnings hit by lower sales, prices<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Sees HEPS at 270-280 cents from 1,236 cents<\/p>\n<p> (Adds details)<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, July 18<\/span> (Reuters) &#8211; Anglo American Platinum<br \/>\n, the world&#8217;s top platinum producer, warned on Wednesday<br \/>\nthat first-half earnings will drop by as much as 78 percent, hit<br \/>\nby lower sales and prices.<\/p>\n<p><span><\/span><\/p>\n<p>Amplats, a unit of global miner Anglo American, said<br \/>\nit expects headline earnings per share for the six months to<br \/>\nend-June to total between 270 and 280 cents, from 1,236 cents a<br \/>\nyear earlier.<\/p>\n<p><span><\/span><\/p>\n<p>Headline earnings are the main profit gauge in South Africa<br \/>\nand exclude certain one-off, financial and non-trading items.<\/p>\n<p><span><\/span><\/p>\n<p>It said sales volumes were hit by the delayed restart of a<br \/>\nconverter plant after annual maintenance, and prices remained<br \/>\nweak.<\/p>\n<p><span><\/span><\/p>\n<p>Higher-than-expected costs relating to labour, diesel and<br \/>\nelectricity also weighed on earnings, it said.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa&#8217;s platinum sector is battling the impact of<br \/>\nweak demand, soaring costs and a government safety drive that<br \/>\nhas cut production as operations are suspended for safety<br \/>\nviolations.<\/p>\n<p><span><\/span><\/p>\n<p>Amplats also said it incurred a loss of 256 million rand<br \/>\n($31.39 million) resulting from revaluation of its investment in<br \/>\nWesizwe Platinum.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Amplats says earnings hit by lower sales, prices * Sees HEPS at 270-280 cents from 1,236 cents (Adds details) JOHANNESBURG, July 18 (Reuters) &#8211; Anglo American Platinum , the world&#8217;s top platinum producer, warned on Wednesday that first-half earnings will drop by as much as 78 percent, hit by lower sales and prices. Amplats, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12548","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12548"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12548\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}