BUSINESS DAY TV: DRDGold top line not in sync with bottom line
Niël Pretorius, CEO of DRDGold, speaks about interim results, which show a headline loss as it started the final clean up and closure of its Crown sitesBUSINESS DAY TV: DRDGold has posted a sharp fall in interim profits after closing a number of sites, laying off staff and depreciating its assets. So while revenue was up 5%, the miner has reported a headline loss per share of 2.4c compared with 2.6c per share a year ago.CEO Niël Pretorius joins us in the News Leader studio now. Niël, so, the top line not translating to the bottom line for the period to the end of December. DRD not managing to leverage off the higher gold price as much as it possibly could have, with operating costs really eating into the 5% climb in revenue. So talk us through the weight you’re feeling and the extent to which that’s now under control.NIËL PRETORIUS: Yes certainly. Operating profits were up 4% but obviously with us retreating out of the West Rand and with the associated costs and provisions that are ...
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