Harmony flags profit fall amid weaker rand and higher costs
Currency caused foreign exchange losses, with higher production expenses offsetting revenue and production increases
20 February 2022 - 16:04
SA’s largest gold miner, Harmony, says a weaker rand and higher production costs weighed on its performance in the half year to end-December, with earnings expected to fall about two-thirds.
Headline earnings per share (Heps) are expected to fall 62%-67% from a restated R7.13bn previously, Harmony said in a trading update on Friday, with a number of items hitting earnings, including a rise in production costs, such as labour...
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