Anglo Platinum has reported an increase in headline earnings for 2005, thanks in part to the high price of metals and a growth in sales volumes.

Year-end results released by the firm have revealed an increase of 63.1 per cent for earnings per share, reaching R18.28 per share.

Production also increased during 2005, with refined pgm production growing by 5.1 per cent compared to the same time the previous year, with a platinum output of 2.45 million ounces.

Officials for the firm attributed the impressive results to high metal prices, improved sales levels and an increase in the quantity and value of pipeline stocks. Production results were attained despite the temporary shutdown of the Polokwane smelter system last year.

"We are pleased with the robust demand for platinum group metals and our solid financial performance. We continue to focus on increasing production at improved operating efficiencies," commented chief executive Ralph Havenstein.

Looking ahead, Anglo Platinum expects refined platinum production to increase to between 2.7 and 2.8 million ounces in 2006, while a number of development projects are being considered.


Ÿ Adfero Ltd