DRDGOLD Limited, the fourth-largest gold producer in South Africa, announced today that its operating profit increased by 76% increased to R477.0 million for the year ended 30 June 2011.
The company announced a dividend of 7.5 South African cents.
“A 15% increase in the average Rand gold price received during FY 2011 to R308 221/kg – together with higher gold production – contributed to a 29% rise in revenue to R 2 565.3 million, and to increased operating profit. Cash operating unit costs for the year were 8% higher at R251 296/kg (FY2010: R233 122/kg), due mainly to power utility Eskom’s substantial price increases and higher winter tariffs,” said the company in a news release.
“While DRDGOLD’s only remaining, predominantly deep-level, underground operation, Blyvoor, was fully impaired in the year under review with a consequent once-off, non-cash impact on net profit, Pretorius points out that headline earnings per share (HEPS) for the year were unaffected by the accounting adjustment, rising by 115% to 28 South African cents.”
