Sibanye Gold said on Tuesday that it expects to report a loss of 324 cents per share and headline loss of 147 cents per share for the six months ended 30 June 2017.
This represents a 1,450 percent decrease in earnings per share (EPS) and a 286 percent decrease in headline earnings per share (HEPS) respectively as EPS and HEPS for the six months ended 30 June 2016 were 24 cents and 79 cents.
This comes as Sibanye will report an attributable loss of R4.8 billion for the six months ended 30 June compared to a R333 million profit during the same period last year.
Sibanye also said that a normalised loss of R1 billion is expected for the six months ended 30 June compared with normalised earnings of R2.1 billion last year.
Sibanye said the decrease in earnings was primarily attributable to non-recurring items which were fourfold higher than for the comparative period, and the 14 percent appreciation of the average rand relative to the US dollar, which impacted group revenue.
Sibanye will present its operating and financial results for the six-months ended 30 June 2017 on Wednesday.
– African News Agency (ANA)