Johannesburg - Anglo American Platinum, the world’s largest producer of the precious metal, said first-half profit will climb at least 20 percent after it recovered from a five-month strike a year earlier.
“The increase in headline earnings and basic earnings is primarily due to the improvement in operational performance following the protected industrial action in the comparative period,” the Johannesburg-based company said in a statement on Monday. It can’t yet provide a more specific range, it said.
Earnings will gain at least R31 million ($2.5 million), or 12 cents per share, for the six months through June 30 from R157-million, or 60 cents, in 2014, Anglo American Platinum said. The stock gained 0.9 percent to R297.99 by 9.09am.
The strike at the South African operations of the world’s three biggest platinum producers from January to June last year shut operations, crippling output.
Bloomberg