January 22, 2018 / 7:22 AM / a month ago

Lonmin reports 65 percent fall in 2017 profit on higher costs

LONDON, Jan 22 (Reuters) - Platinum miner Lonmin reported a 65 percent drop in 2017 profit on Monday citing higher costs and subdued commodity prices but reiterated its 2018 targets.

The London and Johannesburg-listed miner said earnings before interest, taxes, depreciation and amortisation (EBITDA) fell to $40 million for the year to ended Sept. 30 from $115 million a year earlier.

Lonmin delayed its results last year pending the outcome of a business review. (Reporting by Zandi Shabalala; editing by Jason Neely)

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