By Michael Susin


Impala Platinum Holdings Ltd. on Thursday posted a lower gross profit for fiscal 2022 as sales fell due to operational issues, and said it is reducing its dividend payout.

The South African platinum miner reported a gross profit of 41.28 billion South African rand ($2.41 billion) for the year ended June 30, down from ZAR53.45 billion for fiscal 2021.

Revenue came in at ZAR118.33 billion compared with ZAR129.57 billion the year before, and above the consensus estimation of ZAR118.16 billion, taken from FactSet and based on eight analysts' forecasts.

Headline earnings were ZAR32.03 billion compared with ZAR36.36 billion the year prior, with headline earnings per share coming in at ZAR38.56, down from ZAR46.35 for fiscal 2021, it added.

The board declared a final dividend of ZAR10.50, compared with ZAR12 in the year prior. This brings the total dividend to ZAR15.75, down from ZAR22.00 a year ago.

The company said tightening markets for palladium and rhodium are expected to provide pricing support in the medium term.


Write to Michael Susin at michael.susin@wsj.com


(END) Dow Jones Newswires

09-01-22 0152ET