JOHANNESBURG (Reuters) - South Africa’s Anglo American Platinum Ltd (Amplats) reported an 86 percent drop in full-year profit on Monday, hit by write-downs and restructuring costs amid plunging commodity prices.
Amplats said diluted headline earnings per share, the main gauge of profit that strips off certain one-off items, totalled 41 cents in the year to the end of December compared with 300 cents a year earlier.
Amplats, a division of Anglo American Plc is undergoing a cost-cutting programme to deal with plunging prices and low demand for precious metal and the effects of a crippling five-month strike in 2014.
($1 = 15.9786 rand)
Reporting by Thekiso Anthony Lefifi; Editing by Stephen Coates