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By Anthony O. Goriainoff
Impala Platinum Holdings Ltd. said on Thursday that gross profit for fiscal 2021 increased as revenues increased, and that while the near-term outlook for platinum remained muted, there was growing momentum for the development of the economy of the ‘hydrogen.
For the fiscal year ended June 30, the South African platinum miner said it made gross profit of 53.5 billion South African rand ($ 3.71 billion), compared with a profit of 23.27 billion. of ZAR for fiscal year 2020.
Revenue was ZAR 129.6 billion compared to ZAR 69.85 billion the previous year and a consensus of ZAR 134.98 billion taken from FactSet and based on forecasts by seven analysts, a indicated the company.
Overall profit amounted to ZAR 36.36 billion, compared to ZAR 16.13 billion the previous year, with overall earnings per share of ZAR 46.35, compared to ZAR 20.75 for fiscal year 2020, said Impala Platinum.
The Johannesburg-listed company had previously forecast an overall profit of between ZAR 35.8 billion and ZAR 36.8 billion, and nominal earnings per share of between ZAR 45.64 and ZAR 46.91.
The board of directors declared a final dividend of ZAR12, compared to ZAR4 the previous year.
“Implats’ balance sheet is strong, with a substantial closing net cash balance and increased funding flexibility through expanded and refinanced facilities,” the company said.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
September 02, 2021 01:50 ET (05:50 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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