South Africa's Anglo American Platinum Ltd (Amplats) reported an 86 percent drop in full-year profit on Monday, hit by write-downs and restructuring costs amid plunging commodity prices.
Anglo Platinum says FY profit drops 86 pct
Amplats, a division of Anglo American Plc is undergoing a cost-cutting programme to deal with plunging prices and low demand for precious metal and the effects of a crippling five-month strike in 2014.
Trucks leave an Anglo American Platinum (AMPLATS) processing plant near Rustenburg in this October 12, 2012 file photo. REUTERS/Mike Hutchings/Files
Amplats said diluted headline earnings per share, the main gauge of profit that strips off certain one-off items, totalled 41 cents in the year to the end of December compared with 300 cents a year earlier.
($1 = 15.9786 rand)
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
BREAKING: FG grants Air Peace right to commence Abuja-London flights - Keyamo
Deputy who dumped Akeredolu clinches PDP governorship ticket
Gov inaugurates 2nd phase of palliative distribution to poor Enugu residents
Flight Dispatchers fault Keyamo's order to suspend Dana Air over landing mishap
Respite for Nigerians as NNPC says cause of fuel scarcity has been resolved
Again, JAMB extends Direct Entry registration, says 2024 UTME best in history
Lagos residents need real empowerment, not your food packs, LP tells Sanwo-Olu
Ikoyi prison controller in trouble for disobeying court order on convict's whereabouts
How non-communicable diseases kill most productive population – WHO expert
ADVERTISEMENT