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Zimplats Holdings Limited (ASX:ZIM) says its mining performance was 11 per cent up on the year for the December quarter, but profit was down 68 per cent.
The platinum group metals producer, with operations on the Great Dyle in Zimbabwe, admitted in a statement that financial performance for the quarter was poor.
Revenue at $97 million was 27 per cent below the previous quarter. Zimplats says that’s because of a continued weakening of metal prices.
Zimplats is warning shareholders to exercise caution in their share dealings due to the uncertain conditions prevailing in Zimbabwe.
Zimplats reported a profit of 186.62 million in the year to June 2011.
News: Zimplats admits to poor performance
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