Zimplats Posts 52 Percent Drop In Fourth Quarter Profits

Reuters reported Zimplats (LSE:IMP) posted a 52 percent drop in operating profit in the fourth quarter to June, mainly due to weaker platinum group metal prices.

As quoted in the market news:

In a statement released on Wednesday, Zimplats said operating profit was $25 million, down from $52 million in the previous quarter as metal prices were depressed during the period while operating costs rose 17 percent in line with higher sales volumes.

Click here to read the full Reuters report.