Sibanye expects lower FY earnings
JOHANNESBURG (miningweekly.com) – Dual-listed Sibanye Gold expects its profit for the 2015 financial year to be between R675-million and R775-million, significantly lower than the R1.5-billion reported in 2014.
“Despite an operational recovery through the year and a return to profitability from the June 2015 quarter, our profit was negatively affected by the relatively poor March 2015 quarter and the Eskom load-shedding in the June 2015 quarter,” the company said in a statement.
Moreover, the weighted average number of shares in issue increased 9% year-on-year following the acquisition of the 1.9-billion-ounce Cooke operation, near Johannesburg, in 2014.
As a result of these factors, earnings per share (EPS) and headline earnings per share (HEPS) for the year were expected to fall by 54% to 60%, and 52% to 59% respectively.
This translated to HEPS of 74c to 85c and EPS of 70c to 81c, down from 186c and 170c the year before.
Normalised earnings for the year were also expected to be lower, falling to R1.18-billion to R1.28-billion, compared with R2.2-billion for 2014.
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