Platinum miner Impala Platinum surprised analysts to the upside following the release of their financial year-end results on Friday.

According to the group, diluted headline earnings per share increased by 39 percent to 5989 cents for the year ended June — well above the 4322 recorded in the previous year.

The total dividend for the year also came to 87 rand — well above forecasts of 56.96 rand.

Sales revenues grew to R17.5-billion, a 40 percent increase on the R12.5-billion recorded in 2005.

According to Keith Rumble, CEO of Implats: "Costs and productivity remain the core focus for the group. Capital expenditure is set to continue to rise to R2.94-billion in financial year 2007, due mainly to the 16 and 20 shaft projects, the smelter upgrade at Impala Platinum, and the Phase 1 expansion at Zimplats."

He added that headline earnings should come in even higher in the 2007 financial year.

Implats will also subdivide its shares of 20 cents each into eight ordinary shares, coming to 2.5 cents per share.

This would increase the issued share capital to 554 million ordinary shares, from 69.2 million shares — valued at nearly R14-billion.

The subdivision is, however, subject to shareholder approval.

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