July 16, 2018 / 6:51 AM / 2 months ago

Amplats expects first-half profit to more than quadruple

JOHANNESBURG (Reuters) - South Africa’s Anglo American Platinum (AMSJ.J) (Amplats) flagged a more than 350 percent increase in half-year profit boosted by improved operational performance and a more favourable rand basket price for the metal.

FILE PHOTO - A cow is seen near the AngloAmerican sign board outside the Mogalakwena platinum mine in Mokopane , north-western part of South Africa , Limpopo province May 18, 2016. REUTERS/Siphiwe Sibeko/File Photo

Amplats said it expects headline earnings per share (HEPS) to come in between 1,249 cents ($0.94) and 1,302 cents per share for the six months ended June 30, compared with 285 cents per share a year earlier.

HEPS is the main profit measure used in South Africa that strips out certain one-off items.

Reporting by Tanisha Heiberg, editing by Louise Heavens

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