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Harmony Gold H1 profits see a sizeable increase

South African miner Harmony Gold’s half-year profit rose more than 40%, due to an improved operational performance recorded by the South African operations as previously announced on 16 January 2018, the firm said on Tuesday.

Headline earnings per share (HEPS), the main profit measure in South Africa that strips out certain one-off items, expected to increase to between 210 and 240 South African cents per share, for the six months ended 31 Decemebr 2017  which is between 40% and 60% higher than the 150 South African cents per share ($0.15-$0.18) recorded in the previous period.

The figure was in line with what the firm previously flagged to the market.

The group, which has operations in South Africa and Papua New Guinea, saw gold production for the half-year period tick up to 560,003 ounces compared to 553,862 ounces in the previous period.

Gold production form its South African operations was up 6% at 538,719 ounces.

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