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Anglo American Platinum: Rand Basket Price Boosted 2020 Earnings

By Ian Walker


Anglo American Platinum Ltd. said Monday it expects to report earnings for 2020 that are as much as 70% higher than in 2019, as the company benefited from a rise in the rand basket price.

The South African mining company--which is majority-owned by Anglo American PLC--said it expects to report headline earnings for the year ended Dec. 31, 2020, of between 27.8 billion South African rand and ZAR31.4 billion ($1.87 billion and $2.14 billion), equivalent to between 10,586 cents and 11,957 cents per share. This compares with ZAR18.6 billion and 7,087 cents in 2019.

Basic earnings per share is expected to be between 10,586 cents to 11,957 cents per share, Anglo American Platinum said. This compares with 7,046 cents in 2019.


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(END) Dow Jones Newswires

February 08, 2021 01:54 ET (06:54 GMT)

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