Shareholders of Harmony are advised that a reasonable degree of certainty exists that net profit for H1FY21 will be between R5.7 billion and R5.9 billion – which is between 325% and 339% higher than H1FY20.
In US dollar terms, net profit for H1FY21 is estimated to be between 283% and 297% higher at US$349 million to US$361 million in comparison to H1FY20.
Headline earnings per share (HEPS) is expected to be between 761 and 795 South African (SA) cents or between 205% and 219% higher than the previous comparable period.
In US dollar terms, HEPS is expected to be between 47 and 49 US cents per share or 175% and 189% higher than the previous comparable period.
Earnings per share (EPS) is expected to be between 942 and 976 South African cents per share or 278% and 292% higher than the previous comparable period.
In US dollar terms, EPS is expected to be between 58 and 60 US cents per share or between 240% and 254% higher than the previous comparable period.
The increase in net profit and earnings is primarily due to:
- an increase in production
- a higher average gold price received
- gains on derivatives and foreign exchange translation gain; and
- a gain on bargain purchase recognised on the acquisition of Mponeng and related operations
The increase was partially offset by an increase in the taxation expense.
