By Oliver Griffin
Anglo American Platinum Ltd. (AMS.JO) said Tuesday that it expects headline earnings for 2017 of between 3.65 billion South African rand ($302.7 million) and ZAR4 billion, higher than it had previously guided.
The company said that headline earnings per share were expected at between 1,392 South African cents and 1,526 cents, or 95% to 114% higher than a year earlier.
These expectations update the guidance that the miner issued in December, forecasting headline earnings and headline EPS at least 20% higher than in 2016.
Basic earnings and basic earnings per share are expected to increase to between ZAR1.85 billion and ZAR1.97 billion, and between 706 cents and 715 cents per share respectively, Anglo American Platinum said.
The company said that the anticipated earnings boost is based on a strong operational performance, strict cost control and higher volumes of platinum-group metal sales.
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