Northam posts record operating profit for the half-year

Northam Platinum has posted results for the first half-year of the 2019 financial year. The strategy which was launched in 2015 with the Zambezi Platinum (RF) Limited Black Economic Empowerment transaction, has for the first time unfolded in the numbers. Normalised headline earnings, the primary measure of performance, amounted to R553 million, or 108.5 cents per share, up by 192.6%.

Operational update

Northam is pleased to announce that it expects to report a record operating profit for an interim period amounting to R1.0 billion for the six month ended 31 December 2018, representing an increase of 204.3% from the comparative prior period (H1 F2018: R338.8 million).

Trading statement

In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are satisfied, with a reasonable degree of certainty, that the financial results for the current reporting period will differ by at least 20% from the financial results of the previous corresponding period.