Johannesburg - South African gold producer Sibanye Gold on Friday said it expected its earnings for the six months to June to increase by as much as 642 percent as it continued printing money on the strengthening of the bullion price.
It expected its headline earnings a share to be between 120c and 122c a share compared with 19c a share from the corresponding previous period, which would be an increase of 532 percent and 542 percent.
The JSE-listed company has seen its share price leap 616.65 percent in three years. The group said earnings a share were expected to be between 35c and 37c compared with 20c for the comparative period, an increase of between 75 percent and 85 percent.
Normalised earnings a share, which is adjusted for gains and losses on foreign exchange and financial instruments, non-recurring items and share of result of associates after tax, were likely to be between 231c and 237c compared with 27c, which would be an increase of between 756 percent and 778 percent.
Sibanye’s share price declined by 1.74 percent to close the day at R67.25 on the JSE on Friday.
BUSINESS REPORT