https://www.miningweekly.com

Sibanye expects lower FY earnings

23rd February 2016

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Dual-listed Sibanye Gold expects its profit for the 2015 financial year to be between R675-million and R775-million, significantly lower than the R1.5-billion reported in 2014.

“Despite an operational recovery through the year and a return to profitability from the June 2015 quarter, our profit was negatively affected by the relatively poor March 2015 quarter and the Eskom load-shedding in the June 2015 quarter,” the company said in a statement.

Moreover, the weighted average number of shares in issue increased 9% year-on-year following the acquisition of the 1.9-billion-ounce Cooke operation, near Johannesburg, in 2014.

As a result of these factors, earnings per share (EPS) and headline earnings per share (HEPS) for the year were expected to fall by 54% to 60%, and 52% to 59% respectively.

This translated to HEPS of 74c to 85c and EPS of 70c to 81c, down from 186c and 170c the year before.

Normalised earnings for the year were also expected to be lower, falling to R1.18-billion to R1.28-billion, compared with R2.2-billion for 2014.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ASTPM
ASTPM

Established in 1983, the ASTPM is an industry association and representative body of the welded carbon steel tube and pipe manufacturers of South...

VISIT SHOWROOM 
Virtual Gas Network (Pty) Ltd
Virtual Gas Network (Pty) Ltd

Virtual Gas Network supplies compressed natural gas via a virtual gas distribution network.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.046 0.999s - 110pq - 2rq
Subscribe Now