(Bloomberg) -- Anglo American Platinum Ltd., the world's biggest producer of the metal, said profit probably more than doubled from a year earlier as sales rose, operations improved and contained costs.
Headline profit in 2017 was likely 96 percent to 114 percent higher than the 1.87 billion rand ($154 million) reported in 2016, the Johannesburg-based company said in a statement Tuesday.
The increase is due to “a strong operational performance, strict cost control and higher platinum group metal sales volumes, together with a 2 percent increase in the rand basket price,” it said.
To contact the reporter on this story: Ana Monteiro in Johannesburg at amonteiro4@bloomberg.net.
To contact the editors responsible for this story: Rene Vollgraaff at rvollgraaff@bloomberg.net, Renee Bonorchis
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