Aquarius Platinum has announced first-half net profit gains of 25 per cent to $106.6 million on higher metal prices.

Production was stable at 277,813 oz of platinum group metals (pgm) attributable while revenue was up 28 per cent to $423.7 million.

Chief Executive Officer Stuart Murray recognised that the year ahead was going to be challenging but said that he expected ongoing price rises to "ameliorate" this impact.

But he did admit that the power crisis in South Africa meant it was hard to predict what will happen to production.

"Until the power situation in both South Africa and Zimbabwe settles, it is rather difficult to predict where the year's full production will end up," he added.

"Equipment failure issues at Kroondal and Mimosa were also a negative feature of the half year," Mr Murray added.

He also announced the acquisition of a 50 per cent interest in Platinum Mile Resources which is a tailings retreatment centre.

Source:

Aquarius Platinum H1 net profit rises 25 pct to 106.6 mln usd, 07/02/08
http://www.forbes.com/markets/feeds/afx/2008/02/07/afx4625548.html

AQUARIUS PLATINUM, Half Year Financial Results
http://www.aquariusplatinum.com/aquarius_db/files/AQP%201H%202008%20FINAL.pdf

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