| Impala Platinum swings to profit on sales, prices Impala Platinum Holdings Ltd. (IMP.JO) on Thursday said it swung to net profit in the first half of fiscal 2019 following increased sales volumes and higher platinum group metals prices. The South African mining company, known as Implats, made a net profit of 2.31 billion South African rand ($166 million) in the six months ended Dec. 31 compared with a net loss of ZAR163 million in the year-earlier period. Revenue in the first half of the financial year rose to 36% to ZAR23.52 billion, Implats said. Implats's headline profit--the company's preferred metric, which strips out one-off costs--for the period was ZAR2.23 billion compared with a headline loss of ZAR150 million in the first half of fiscal 2018. Headline earnings per share were ZAR3.10. Implats said its first-half financial performance was pushed higher by a stronger group-wide performance, aided by a higher platinum-group metal basket price, with significant increases seen in palladium, rhodium and nickel. Going into the second half of the year, the company said pressures facing the South African platinum industry remain largely unchanged but added that the medium term outlook has improved. The company backed its full-year refined production guidance at 1.5 million-1.6 million platinum ounces. https://www.marketwatch.com/story/...-2019-02-28?mod=newsviewer_click
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