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Northam Platinum expecting profits to soar to record R1bn

Northam Platinum expecting profits to soar to record R1bn

February 11, 2019

 

Listed Platinum Group Metals (PGM) producer Northam Platinum yesterday flagged that its first-half operating profits were expected to climb to a record R1billion for the six months to December 2018.The company said the hike would see the group recording a 204.3 percent boost from the R338.8million in the same period a year earlier.It said revenue had surged by 48.6percent to R5bn from R3.4bn in the same period last year, driven primarily by higher volumes.Chief executive Paul Dunne said that the strong financial performance was underpinned by Northam’s on-track growth and diversification strategy.The group said earnings before interest, taxation, depreciation and amortisation (Ebitda) were expected to increase to R1.1bn for the interim period from R532.8m, representing an Ebitda margin of 22.6 percent.

 

Source: https://www.iol.co.za/b

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