Harmony expects drop in earnings

Harmony Gold said its earnings per share for the first half of the year could be up to 97% lower than this time last year.

The gold miner said a R915 million depreciation charge, lower derivatives gains and unfavourable currency conversion hit earnings, while costs also rose 6%. Headline earnings per share were expected to be 83-97% lower than the first half of 2018.

However, production rose by 34% year-on-year.– Reuters