Northam Platinum has seen its profits fall for the first half of the year, as the strong rand continues to impact on the industry.

The platinum group metals outfit saw its net profit fall to 254 million rand, a drop from last year's total of 275 million rand.

In a statement, the company said that precious metals in concentrates produced rose to 340,547 ounces from 332,888 ounces.

Precious metals sold also rose, from 294,947 ounces to 377,239 ounces, but the negative effects of the strong rand against the dollar proved damaging.

Fully diluted earnings per share fell to 1.07 rand from 1.17 rand, although dividends and capital repayments to shareholders were maintained.

Cash costs rocketed to $449 an ounce from $333 an ounce a year earlier, outstripping the rise in the basket price for platinum group metals.

Northam also revealed plans for expansion, saying it would be pursuing growth opportunities arising from new minerals legislation.