Harmony Gold is expecting a large increase in profits for the year six months ended 31 December 2024 amidst record high gold prices.<\/p>\n\n\n\n
The group said that it expects earnings per share and headline earnings per share to increase in revenue as a result of the delivery of consistent production and a higher average gold price received. <\/p>\n\n\n\n
The average gold price received increased by 23% to R1,405,020\/kg in H1FY25 from R1,141,424\/kg in H1FY24. <\/p>\n\n\n\n
However, Harmony Gold said that the increase in earnings was partially offset by an increase in production costs and an increase in current taxation due to higher income and royalty taxes. <\/p>\n\n\n\n
The group said that earnings per share are expected to be between 1,182 and 1,355 cents per share, which represents an increase of between 24% and 42%. <\/p>\n\n\n\n
The group’s headline earnings per share are also expected to increase by between 24% and 42% to between 1,188 and 1,361 cents. <\/p>\n\n\n\n
“The outstanding H1FY25 results are on the back of continuous investment in safety, operational excellence and higher quality ounces,” said CEO Beyers Nel.<\/p>\n\n\n\n
“We have a stable, predictable, rand-based cost structure and have been delivering operational consistency across the entire group.” <\/p>\n\n\n\n
“Our disciplined approach to capital allocation has enabled us to leverage the current high gold price environment to generate exceptionally robust operating free cash flows.”<\/p>\n\n\n\n
Harmony will publish its financial results for the six months ended 31 December 2024 on Tuesday, 4 March 2025. <\/p>\n\n\n\n Harmony Gold is expecting a massive rise in earnings as gold prices remain elevated amidst global uncertainty. <\/p>\n","protected":false},"author":95,"featured_media":814493,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[21850],"class_list":["post-814474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-harmony-gold"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/814474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=814474"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/814474\/revisions"}],"predecessor-version":[{"id":814498,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/814474\/revisions\/814498"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/814493"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=814474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=814474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=814474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Financials<\/strong><\/td> H1FY24<\/strong><\/td> H1FY25<\/strong><\/td> % Change<\/strong><\/td><\/tr> Earnings per share (cents)<\/td> 956<\/td> 1182 – 1355<\/td> 24% – 42%<\/td><\/tr> Headline earnings per share (cents)<\/td> 956<\/td> 1188 – 1361<\/td> 24% – 42%<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"