JSE-listed Impala Platinum (Implats) expects to swing to a headline loss a share of between 125c and 150c for the financial year ended June 30, compared with the headline earnings a share of 12c reported in the 2016 financial year. The company attributed the decline in headline earnings a share to the posting of a gross loss and the fact that its income tax credit was negatively impacted on by higher profits for its Zimplats subsidiary, in Zimbabwe, and a nonrecurring tax credit on a bad debt in the prior year.
