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Siabnye Gold: EPS for H1 to be 30 cents

1.8930299Shareholders of Johannesburg Stock Exchange- and New York Stock Exchange-listed Sibanye Gold will be entitled to, at least, 150% (or 30 cents per share earnings per share (EPS), for the six months ending 30 June 2016, higher than the 20 cents per share reported for the previous corresponding period in 2015.


The world’s 10th largest gold miner, which broke away from Gold Fields, further announced to shareholders that headline earnings per share (HEPS) for the six months ending 30 June 2016, is expected to be at least 158% (or 30 cents per share) higher than the 19 cents per share reported for the previous corresponding period in 2015.

Sibanye said the increase in EPS and HEPS is primarily due to the increase in the average rand gold price, which was 301% higher for the March 2016 quarter than for the comparable quarter in 2015.

Normalised earnings per share are expected to increase at least 500% from the 27 cents per share normalised earnings reported for the six months ended 30 June 2015.

Sibanye explained that the difference between forecast normalised earnings and EPS and HEPS is primarily a result of a forecast fair value loss relating to financial instruments, as a result of the increase in Sibanye’s share price, which has increased approximately 130% from R23.56 per share at 31 December 2015.

The miner said the financial information, on which the trading statement has been based, has not been reviewed or reported on by its external auditors.

Sibanye said a further trading statement with a more definitive range will be released, as required by paragraph 3.4(b) of the Listings Requirements of the JSE Limited, once greater certainty is obtained.


Source: http://classfmonline.com/1.8983727

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