Make Kitco Your Homepage

DRDGOLD anticipates EPS to double

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - DRDGOLD Limited (DRDGOLD; JSE, NYSE: DRD) said today that it expects to report earnings per share (EPS) of between 106.2 cents and 115.8 cents per share for the six months ended 31 December 2020 compared to 48.5 cents per share for the previous corresponding period.

Headline earnings per share of between 106.2 cents and 115.8 cents per share are expected compared to 48.4 cents per share for the previous corresponding period.

The expected increases in EPS and HEPS are due mainly to movements in revenue, cash operating costs and the weighted number of ordinary shares.

DRDGOLD is a South African gold producer and describes itself as a world leader in the recovery of gold from the retreatment of surface tailings.

Revenue increased by R866.0 million (US$57.48 million), or 41%, to R2,977.4 million (US$197.58 million).

As at 31 December 2020, DRDGOLD’s cash and cash equivalents was R2,169.4 million (US$143.96 million), with a revolving credit facility with ABSA Bank Limited of R200 million, available if needed. The Group remains free of any bank debt as at 31 December 2020 (30 June 2020: Rnil). Liquidity is further enhanced by current high Rand gold price levels.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.