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Tharisa to report sharp increase in earnings on the back of improved chrome concentrate price

Production guidance for the financial year ending 30 September 2018 is 150,000 ounces of contained platinum group metals (on a 6E basis) and 1.4mln tonnes of chrome concentrates

The Tharissa mine
Tharisa saw record annual PGM and chrome production last year

Tharisa PLC (JSE:THA, LON:THS) is set to report a sharp increase in earnings per share when it releases its full-year results at the end of this month.

The company said that thanks to a solid operational performance and the increase in the chrome concentrate price, headline earnings per share are expected to be between 21 and 23 cents per share for the year to the end of September, versus just six cents for the year before.

WATCH: Tharisa on the lookout for opportunities after excellent year of production

"While the PGM [platinum group metals] basket price remained relatively flat year on year the realised average chrome concentrate price increased to US$200 per tonne for the financial year, this combined with record annual PGM and chrome production, resulted in the increase in the earnings of the company," said Phoevos Pouroulis, chief executive of Tharisa.

Quick facts: Tharisa PLC

Price: 110.5 GBX

LSE:THS
Market: LSE
Market Cap: £294.6 m
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