Anglo American Platinum Sees 2006 Earnings at Least 20% Higher than 2015

By Ian Walker

Anglo American Platinum Ltd. (AMS.JO) said Thursday that earnings for 2016 will be at least 20% higher than last year, although it didn't provide any specific guidance citing "insufficient certainty."

The South African mining firm said both earnings and earnings per share will be higher mainly due to the benefit of foreign exchange movements, as well as cost-saving initiatives across the company.

Headline earnings and earnings per share for the year ended Dec. 31, 2015 were 107 million South African Rand ($8 million) and 41 South African cents respectively. Basic loss and loss per share for 2015 were ZAR12.125 billion and 4,638 cents respectively, due to the asset impairments and write-offs in the comparative period.

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

November 10, 2016 01:59 ET (06:59 GMT)

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