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Amplats trading statement

Whoa, can you read the Anglo American Platinum trading statement? It actually was not posted on the Amplats website, believe it or not, it was nowhere online, only on the SENS service. The first part is pretty basic and self explanatory: headline earnings and headline earnings per share ("HEPS") for the period are likely to decrease to be between R650 million and R875 million and 250 cents and 335 cents per share respectively. The prior year it was 1.451 billion Rand, 556 cents per share. Basic EPS is "likely to increase to be between R495 million and R705 million and 190 cents and 270 cents per share respectively." The upshot of it all is that the stock is down 3.3 percent, not good. I am interested to see in the results (9 February) the further action taken with regards to the unprofitable mines to reflect the reality of lower platinum prices. Phew, we still continue to avoid single commodity stocks, the prospects still look patchy at best.


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