Sibanye’s profit warning is a bad omen for revenue-thirsty fiscus
Headline earnings per share are expected to fall by between 47% and 52% in the miner’s half-year, with gold production falling by more than three quarters
17 August 2022 - 08:54
UPDATED 17 August 2022 - 22:59
Sibanye-Stillwater got off to a weak start in the 2022 financial year, flagging a near halving in its first-half earnings and reflecting an industry-wide turnabout in fortunes that bodes ill for SA’s corporate tax receipts.
Sibanye, the biggest miner of platinum group metals (PGMs), said on Wednesday that it expected headline earnings per share, the primary measure of profit that strips out certain one-off items, to fall in a range of 47%-52% to as low as 402c to end-June, hit by floods, safety issues and a gold strike...
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