DRDGold anticipates an increase of up to 18% in its earnings for the year ending June 30, mainly due to a 16% rise in the rand gold price.
- The company expects its earnings per share to rise by 9% to 19%, with headline earnings per share (Heps) predicted to increase by 8-18%, approximately ranging from R1.40 to R1.54.
- DRDGold reported a 7% increase in revenue, amounting to R5.5 billion, compared to the previous comparable period of R5.2 billion.
- Cash operating costs rose by 6% to R3.688 billion, due to an increase of R224.3 million. This is compared to the previous financial year’s operating costs of R3.5 billion.
- Gold production dropped by 5% to 3,936kg due to factors such as load shedding, depletion of reclamation sites, and delays in commissioning new reclamation sites.
- Ergo Mining’s revenue increased by R403.7 million to R4.108 billion, while Far West Gold Recoveries (FWGR) revenue decreased by R25.9 million to R1.4 billion.
- Costs related to reagents, diesel, electricity, security, and machine hire experienced above-inflationary increases for both Ergo and FWGR.
- DRDGold reported holding R2.47 billion in cash and cash equivalents, slightly lower than R2.52 billion held on June 30 the previous year. The group remains debt-free.