Impala Platinum Profits Dip as Costs Increase

Bloomberg reported that the world’s second biggest producer of platinum, Impala Platinum Ltd., said that its first half profit decrease to as much as 79% due to rising costs and a $68M writedown.

As quoted in the market news

Earnings per share excluding one-time items were probably 1.20 rand to 1.38 rand in the six months through December compared with 5.73 rand a year earlier, the Johannesburg-based company said in a statement today. The median estimate of three analysts in Bloomberg survey was for 1.57 rand. Impala is recording a writedown of 603 million rand ($68 million).

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