Harmony Gold has seen a large increase in its profits, with the group looking to reduce its risk through diversification into copper and expanding geographically. <\/p>\n\n\n\n
In its interim financial results for 31 December 2024, Harmony said it was investing in various projects to position itself to benefit from both gold and copper cycles.<\/p>\n\n\n\n
The group said that this diversification strategy will result in higher margins through the continuous improvement in the quality of its portfolio.<\/p>\n\n\n\n
Gold revenue for the reporting period increased by 19% to R35,447 million compared to R29,705 million in H1FY24.<\/p>\n\n\n\n
Group operating free cash flows increased by 46% to a new half-year record of R10.392 million from the previous half-year record of R7,112 million in H1FY24.<\/p>\n\n\n\n
The increase was mainly a result of the higher recovered grades achieved and a 23% increase in the average gold price received to R1,405,020\/kg from R1,141,424\/kg. <\/p>\n\n\n\n
As per the group’s strategy, group production for the reporting period decreased by 4% to 24,816 kg from 25,889kg in H1FY24.<\/p>\n\n\n\n
This was primarily due to planned lower recovered grades at Hidden Valley and lower production from its South African optimised operations. <\/p>\n\n\n\n
The group said it is well-positioned to benefit from the high gold price, which remains elevated due to high levels of global uncertainty.<\/p>\n\n\n\n
“With most of our costs in rand and group all-in costs (AIC) well below the current gold price, we are benefiting from the combination of the current strong US dollar and gold price.” <\/p>\n\n\n\n
“Cost increases are in line with our FY25 plans and remain well-managed. Increases are mainly due to annual inflation, higher capital expenditure and planned lower production.” <\/p>\n\n\n\n
Looking at the group’s financials, basic earnings per share increased by 32% to 1,265 cents per share compared to 956 cents per share in the comparative reporting period. <\/p>\n\n\n\n
Headline cents per share also increased by 33% to 270 SA cents per share compared to 956 SA cents per share.<\/p>\n\n\n\n
Harmony’s dividend policy is to pay a return of 20% of net free cash generated to shareholders. It declared a record interim dividend of 227 SA cents.<\/p>\n\n\n\n Harmony Gold has seen a large increase in earnings, with the group looking to diversify in its portfolio. <\/p>\n","protected":false},"author":95,"featured_media":815225,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[21850],"class_list":["post-815182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-harmony-gold"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/815182","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=815182"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/815182\/revisions"}],"predecessor-version":[{"id":815232,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/815182\/revisions\/815232"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/815225"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=815182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=815182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=815182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Financials<\/strong><\/td> H1FY24<\/td> H1FY25<\/td> % Change<\/strong><\/td><\/tr> Group gold revenue (Rm)<\/td> R29 705<\/td> R35 447<\/td> +19%<\/td><\/tr> Net profit (Rm) <\/td> R5 960<\/td> R7 929<\/td> +33%<\/td><\/tr> Basic earnings per SA cents<\/td> 956 <\/td> 1 265<\/td> +32%<\/td><\/tr> Headline earnings per SA cents<\/td> 956<\/td> 1 270<\/td> +33%<\/td><\/tr> Interim dividend<\/td> 147<\/td> 227<\/td> +54%<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"