By Anthony O. Goriainoff
Impala Platinum Holdings Ltd. said Thursday that gross profit for fiscal 2021 rose as revenue increased, and that although in the near term platinum prospects remained muted there was a growing momentum for development of the hydrogen economy.
For the year ended June 30, the South African platinum miner said it made a gross profit of 53.5 billion South African rand ($3.71 billion), compared with a profit of ZAR23.27 billion for fiscal 2020.
Revenue was ZAR129.6 billion compared with ZAR69.85 billion the year before and consensus of ZAR134.98 billion taken from FactSet and based on seven analysts' forecasts, the company said.
Headline earnings were ZAR36.36 billion, compared with ZAR16.13 billion the year prior, with headline earnings per share coming in at ZAR46.35, compared with ZAR20.75 for fiscal 2020, Impala Platinum said.
The Johannesburg-listed company had previously guided for headline earnings of between ZAR35.8 billion and ZAR36.8 billion, and headline earnings per share of between ZAR45.64 and ZAR46.91.
The board declared a final dividend of ZAR12, compared with ZAR4 in the year prior.
"Implats's balance sheet is strong, with a substantial closing net cash balance and increased funding flexibility through upsized and refinanced facilities," the company said.
Write to Anthony O. Goriainoff at email@example.com
(END) Dow Jones Newswires