JOHANNESBURG (miningweekly.com) – A 21% increase in the average rand gold price has pushed Harmony Gold’s earnings back into positive territory in the 2016 financial year.
The gold miner expects to report headline earnings per share (HEPS) of between 202c and 240c for the year ended June 30, a 207% to 227% increase on the headline loss a share of 189c reported in the prior financial year.
In US dollar terms, HEPS are expected to be between $0.29 and $0.32 an increase of between 180% and 200% on the headline loss a share of $0.16 reported in the prior financial year.
Earnings per share (EPS) for the year under review are expected to be between 200c and 238c, which is between 119% and 123% higher than the loss a share of 1 044c reported in 2015.
EPS in dollar terms are expected to be between $0.13 and $0.16, an increase of between 115% and 119% on the loss a share of $0.86 reported in the prior financial year.
Harmony will publish its results on August 17.