Pan African flags increased earnings on the back of higher gold sales, prices
Gold producer Pan African Resources expects to report headline earnings per share (HEPS) of between $0.04 and $0.043 for the financial year ended June 30. That represents an increase of between 27% and 37% on the HEPS of $0.032 reported for the prior financial year.
Earnings per share (EPS) are expected to increase by between 25% and 35% to between $0.04 and $0.043 for the year under review, compared with the EPS of $0.032 reported for the prior financial year.
Pan African attributes the increase in EPS and HEPS to a 16.8% year-on-year increase in revenue, on the back of a 4.9% increase in gold sold and an 11.3% increase in the average dollar gold price.
The company will report its results for the financial year on September 11.
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