https://www.engineeringnews.co.za

Gemfields expects to swing to interim profit

21st September 2018

By: Creamer Media Reporter

     

Font size: - +

Gemfields expects to report a net profit of $16-million, or about R197-million, for the six months ended June 30, compared with a net loss of $81-million, or about R1.1-billion, reported for the six months to June 30, 2017.

In a trading update on Friday, the company said its earnings a share and headline earnings a share for the interim period are likely to be $0.01, or about 15c, compared with a loss a share and headline loss a share of $0.10, or about R1.39, in the prior comparable period.

Gemfields’ two key operating assets, Kagem and MRM, generated revenues of $20.3-million and $71.8-million, respectively, during the six months under review. Its Fabergé subsidiary recorded revenues of $7-million.

Further, during the six months, Gemfields sold about 60% of its shares in Jupiter Mines and participated in a further share buyback  by Jupiter. These transactions realised profits of $11.7-million for Gemfields.

The company will publish its interim results on September 28.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.063 0.114s - 156pq - 2rq
Subscribe Now