05 Sep 2018

DRDGOLD reports operating profit increase of 38%

Bloomberg

Shares in gold producer and recovery specialist DRDGOLD [JSE:DRDGOLD] jumped by 6% at noon on Wednseday, after it announced a year-on-year increase of 38% in operating profit to R355.2m.

Total gold production was up 10% to 4 679kg, while the group grew its headline earnings per share from 0.2c in 2017 to 1.7c for the year ended June 30, 2018.

At 11:57, the gold producer's stock was trading at R3.31 a share, up 19c on the day.

In a statement the company said the increase in operating profit was a result of "high gold production and sales and lower costs".

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