DRDGold reports 22% profit fall as costs rise
South Africa’s DRDGold on Wednesday reported a 22% fall in profit for the year ended June 30 mainly due to surging costs.
DRDGold’s headline earnings per share (HEPS), South African companies’ main profit measure, fell to 1.307 rand ($0.0767) from 1.684 rand.
Production totalled 183,902 ounces, little changed from 183,999 ounces a year earlier, but all-in sustaining costs (AISC) rose 15%. Increases in the prices of diesel, chemicals and steel drove costs higher, DRDGold said.
The company, which recovers gold from processing mine dumps and tailings dams, declared a dividend of 40 South African cents per share.
($1 = 17.0332 rand)
(By Nelson Banya; Editing by Jason Neely)
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