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Amplats expects half-year earnings to double

Anglo American Platinum (Amplats) on Tuesday said it expects half-year earnings to double, raising its outlook on higher metals prices and a stockpile gain of 1.0 billion rand ($72 million).

Amplats, which previously flagged an 80% increase, said it now expects headline earnings per share (HEPS) for the six months to June 30 of 2,671 to 2,924 cents per share, an increase of 108% to 128%, compared with 1,282 cents A year earlier.

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

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Amplats will release its results on July 22.