Corrections & Amplifications
This headline was corrected at 0840 GMT. The original misstated the currency as euro.
By Michael Susin
Harmony Gold Mining expects fiscal 2023 earnings to be ahead of last year, supported by higher gold prices.
The South African gold mining company said Wednesday that earnings per share for the year ended June 30 is expected to be between 763 and 798 South African cents (43 and 45 U.S. cents), a significant increase on the loss per share of 8 U.S. cents reported in the same period a year ago.
The rise is mainly driven by an increase in revenue on the back of higher average gold price received, but is partially offset by an increase in production cost.
Headline earnings per share are expected to be between 747 and 850 South African cents, an increase of between 50% and 70% from the headline earnings of 499 South African cents.
The company has met the upper end of its production guidance of 1.4 million to 1.5 million ounces, it added.
Write to Michael Susin at [email protected]
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