Feb 23 (Reuters) - South Africa's Harmony Gold expects profit for the six months to Dec. 31 to have risen by as
much as 30%, it said on Thursday, with higher metal grades and
prices offsetting increased production costs.
Harmony Gold said headline earnings per share (HEPS)- the
most common profit measure in South Africa - are expected to
come in between 2.72 rand ($0.1483) and 3.22 rand ($0.1755),
compared with 2.48 rand in the same period of the previous
financial year.
The South African miner, which also has operations in Papua
New Guinea, said it was on track to meet annual production
guidance between 1.4 million and 1.5 million ounces in its
financial year to June 30.
Gold output was between 720,000 ounces and 745,000 ounces
for the half year to Dec. 31.
Harmony expects to report a 10% jump in production costs,
though its "all-in sustaining costs", an industry measure of
costs, is likely to be less than its cost guidance of 900,000
rand per kilogram.
Harmony Gold is scheduled to release half-year results on
March 1.
($1 = 18.3433 rand)
(Reporting by Nelson Banya
Editing by David Goodman)
