South Africa

Trading Day – Impala Platinum and African Rainbow Minerals report slump in earnings

Patrice Motsepe

Impala Platinum and African Rainbow Minerals both report a slump in earnings.

Montauk Renewables announces a plan to build a second renewable natural gas processing facility at its Apex landfill in Amsterdam, Ohio. 

Here is the biggest news of the day.

  • Impala Platinum reports a slump in earnings. Revenue for the year decreased from R129.6 billion to R118.3 billion, while earnings per share (EPS) decreased from R59.96 to R38.56. The company declared a final dividend of R10.50. They also declared a further acquisition of shares in Royal Bafokeng Platinum, constituting a stake of around 0.5% of shares in issue.
  • African Rainbow Minerals reports a slump in earnings. Headline earnings per share (HEPS) decreased 13% to R57.87. The acquisition of Bokoni Platinum Mine was completed for R3 500 million and will be settled in early September. A final dividend of R20 per share was declared, the same amount as 2021.
  • Montauk Renewables announces a plan to build a second renewable natural gas processing facility at its Apex landfill in Amsterdam, Ohio. The company is planning for the project to add a 40% increase in processing capacity and to be completed in 2024. The expected capital investment will cost between $25 million and $30 million.
  • Harmony Gold’s COO sells R8.1 million of shares following disappointing results. 100 000 shares were sold for an average price of R81.34.
  • Santam earnings only half of last year despite an increase in revenue. Earnings per share (EPS) for the half-year were down 51% compared to 2021, coming in at R4.25. Gross written premium (GWP) increased by 23% to R24.7 billion. Gross claims paid were R14.2 billion, R4.4 billion of which was attributable to the KZN floods. The company declared an interim dividend of R4.62.
  • Aspen Pharmacare sees a significant increase in earnings. Earnings per share (EPS) was up 36% to R14.32. Revenue increased by 2% to R38.6 billion. The company declared a final dividend of R3.26 per share.
  • Clientèle Limited reports a healthy increase in earnings per share (EPS) to R1.30, up 11%. The company declared a final dividend of R1.20 per share.
  • Mustek expects a decrease in earnings. The company released a trading statement indicating an expected decline of around 20% in earnings per share (EPS) to approximately R3.40. Net asset value per share is expected to increase from R20.46 to R23.90. Results are due on 13 September.
  • Huge Group announces plans to acquire shares of Interfile Group.
  • Trellidoor expects earnings to just barely turn to a loss. The company released a trading statement indicating an expected decline in earnings per share (EPS) from R40.70 to R0.02 and R0.02. Results are due on 5 September.
  • Nvidia shares fell 6.5% yesterday after announcing that it’s been told by the U.S. government to stop selling chips in China and Russia.

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