Harmony Gold Mining’s share price jumped as much as 7.8%
to R34.44 on Monday after it said it expected to report a return to
profit.
Harmony said in a trading statement that it expected to report on February 2 that it made headline earnings per share for the six months to end-
December of between R1.39 and R1.60, from the matching period’s R1.03 headline loss per share.
Its return to profitability was primarily due to an increase in the average gold spot price received, the recognition of a gain on the Hidden Valley acquisition and the gains recognised on the gold and currency hedges, the statement said.
"We achieved all we set out to in the six months from July 1 to December 31," CEO Peter Steenkamp said.
"We improved our safety performance and increased production. Safe mines are profitable mines and profitable mines strengthen our margins," he said.
Harmony said in a trading statement that it expected to report on February 2 that it made headline earnings per share for the six months to end-
December of between R1.39 and R1.60, from the matching period’s R1.03 headline loss per share.
Its return to profitability was primarily due to an increase in the average gold spot price received, the recognition of a gain on the Hidden Valley acquisition and the gains recognised on the gold and currency hedges, the statement said.
"We achieved all we set out to in the six months from July 1 to December 31," CEO Peter Steenkamp said.
"We improved our safety performance and increased production. Safe mines are profitable mines and profitable mines strengthen our margins," he said.
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