Harmony Gold records profit on higher output

File photo

File photo

Published Nov 8, 2013

Share

Johannesburg - South African gold producer Harmony Gold Mining Company Ltd on Friday posted a quarterly profit after two previous quarterly losses as it grew production and grades.

Harmony, one of South Africa's top four gold producers, reported headline earnings of 5 cents a share for the three months to end September compared to a third-quarter headline loss of 186 cents a share.

Headline earnings per share is the main profit measure in South Africa and excludes some one-time items.

Production was up 12 percent at 309,773 ounces on higher tonnage and better grades, which helped drive down costs and offset increases in labour costs following a new wage agreement. - Reuters

Related Topics: