Commodities
Harmony Gold Says Profit Soared 78% on Higher Output and Prices
- South African miner released expectations ahead of results
- Output from the company’s portfolio rose 6% last year
A Harmony Gold mine west of Johannesburg in 2015.
Photographer: Waldo Swiegers/Bloomberg
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Harmony Gold Mining Co. said its profit in the last fiscal year likely rose 78% after it increased output as bullion prices notched successive records.
The Johannesburg-listed company expects to post earnings per share of as much as 13.88 rand ($0.78) for the 12 months through June, up from 7.80 rand in the same period a year earlier, according to a statement released on Monday. It will release financial statements on Sept. 5.