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S.Africa's Amplats FY profit falls 46 pct, lags consensus
February 9, 2015 / 6:26 AM / 3 years ago

S.Africa's Amplats FY profit falls 46 pct, lags consensus

JOHANNESBURG, Feb 9 (Reuters) - Anglo American Platinum , the world’s biggest platinum producer, reported a worse than expected 46 percent fall in annual profit on Monday, hit by South African mining strikes and falling prices.

Amplats, the South African unit of global miner Anglo American , said headline EPS totaled 301 cents in the year ending December, well below 483 cents estimate in a Reuters poll of 10 analysts.

Headline EPS, the main profit measure in South Africa, strips out certain one-off items.

The platinum mining industry is in the middle of a shake-up that includes selling-off underperforming assets as it struggles to recover from last year’s five-month platinum strike.

The mining sector is also under pressure from the falling price platinum, which has dropped about 20 percent since July last year. (Reporting By Tiisetso Motsoeneng; Editing by Joe Brock)

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