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Stock impact report

Harmony Gold records half-year profit, helped by higher bullion prices [Reuters]

Harmony Gold Mining Company Limited (HMY) 
US:NYSE Investor Relations: harmony.co.za/investors
Company Research Source: Reuters
Harmony Gold records half-year profit, helped by higher bullion prices JOHANNESBURG (Reuters) - South African bullion producer Harmony Gold Mining said on Tuesday it posted an interim profit boosted by a higher average gold price, which rose by 19% during the period. Headline earnings per share (HEPS) rose to 249 cents for the six months ended Dec. 31, from a loss of 4 cents in the same period a year ago. HEPS is the main profit measure in South Africa and strips out certain one-off items. “While a stronger gold price received continues to provide a welcome boost to our financial performance, we will focus our efforts on what we are able to control being safety, costs and production,” said Peter Steenkamp, chief executive officer of Harmony. Production costs rose 9% for the six months because of annual and inflationary increases, higher labor costs, increased electricity costs and more consumable stores. Net profit for the period was 1.3 billion rand, compared to a loss of 19 million Show less Read more
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