File photo: Petr Josek.
JOHANNESBURG - DRD Gold the gold tailings company and the oldest JSE-listed stock, expects earnings for the six months to December 2018 to soar on the back of higher gold production for the period, it said yesterday.

Earnings per share and headline earnings per share would be higher primarily due to the 11percent increase in gold production, the company said in its trading statement. 

This was despite a 4percent lower rand gold price received for the period. Earnings per share were expected to fall between 14.16cents and 14.64c per share for the six months ended December 31, 2018, compared with 0.6c per share for the same period in the 2017 financial year. 

Headline earnings per share were expected to be between 14.06c per share and 14.54c per share compared to a headline loss of 2.4c per share for the same period in the 2017 financial year. 

DRDGold said it was also planning gold production from its operations of 147000 to 153000 ounces at cash operating costs of R475000 per kilogram for the year ending June 30, 2018. The results will be published on February 15. 

- BUSINESS REPORT