Impala Platinum Warns on 1st Half Earnings

By Tapan Panchal

LONDON--Impala Platinum Holdings Ltd. (IMP.JO) Monday said it will swing to a loss for the first half of fiscal 2017 due to the absence of a tax credit recorded in the comparative year ago period and the negative impact from sale of stake in Impala Chrome (Pty) Ltd.

The South African platinum miner said it expects to record an adjusted loss per share of between 65 South African cents ($0.048) and 79 cents for the six months ended Dec. 31, 2016, compared with adjusted earnings per share of 53 cents in the comparative year ago period. Basic loss per share is anticipated to be between 48 cents and 58 cents, versus earnings per share of 31 cents.

The sale of stake in Impala Chrome will negatively impact first half adjusted earnings per share by 10 cents to 15 cents, the company added.

Write to Tapan Panchal at tapan.panchal@wsj.com

(END) Dow Jones Newswires

February 13, 2017 07:40 ET (12:40 GMT)

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