Harmony Gold: Headline EPS Rise on Improved South Africa Performance

02/09/18 05:33 AM EST
   By Oliver Griffin 
 

Harmony Gold Mining Co. (HAR.JO) said on Friday that headline earnings per share for the first half of fiscal 2018 are expected to be between 40% and 60% higher than HEPS in the year earlier period.

The gold miner said that HEPS for the six months ended Dec. 31 is expected to grow to between 2.10 South African rand per share ($0.17) and ZAR2.40 per share ($0.20), from ZAR1.50 ($0.12) for the first half of fiscal 2017.

The company attributed the growth in HEPS to an improved operational performance recorded by the company's South African operations.

Earnings per share are expected to decrease by between 35% and 55%--ZAR2.29 and ZAR1.58 respectively, Harmony Gold said.

Earnings for the first half of the year will be lower than in the year-earlier period mainly due to a ZAR848 million charge associated with the full acquisition of the Hidden Valley mine in Papua New Guinea, the company said.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com

 

(END) Dow Jones Newswires

February 09, 2018 05:33 ET (10:33 GMT)

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