Sylvania ups profit in FY20 despite lost output

Aim-listed Sylvania Platinum reported a significant increase in revenue, adjusted group earnings and net profit for the financial year ended June 30, despite the Covid-19-related hard lockdown in South Africa in March and April.

The company’s Sylvania Dump Operations (SDO), in South Africa’s Bushveld Complex, produced 69 026 oz of platinum, palladium, rhodium and gold (4E PGMs) for the year, which was 4% lower than the 72 090 oz produced in the year ended June 30, 2019.