DRD DRDGOLD LTD 1.22
Year high: 3.65
2 Year high: 6.43
Time for a strong rebound here, in South Africa you pay 31% more.
JSE: DRD ZAR 212c +18.44%
01 September 2015 at 10:30am
ZAR/USD: 212 ZAR = 1,59 USD
BRIEF-Drdgold says FY oper profit up 48 pct to 384.3 mln rand
Sept 1 (Reuters) - Drdgold Ltd
* Fy operating profit up 48% to r384.3 million
* Q4 gold production up 9% to 40 253oz versus q3
* Fy gold production up 13% to 150 145oz
DRDGOLD declares five-fold dividend increase
01 September 2015
“Very satisfactory” results for 2015: CEO
Johannesburg, South Africa. 1 September 2015. DRDGOLD Limited (DRDGOLD; JSE, NYSE: DRD) has declared a final dividend of 10 South African cents per share for the year ended 30 June 2015, the eighth consecutive final dividend declared and a five-fold increase on the final dividend declared in FY2014.
The improved dividend flows from what CEO Niël Pretorius describes as “very satisfactory results” for the 2015 financial year.
A 13% increase in gold production to 150 145oz boosted operating profit for the year which increased by 48% to R384.3 million, assisted also by a 4% rise in the average Rand gold price received.
Revenue increased by 16% to R2 105.3 million and, after accounting for total cash operating costs (including the negative impact of Eskom’s higher winter tariffs in the last quarter), was 13% higher at R1.741.6 million.
Yield, up 14% to 0.197g/t, drove improved gold production and reflected a sharp turnaround in the performance of the Ergo plant.
Looking ahead to FY2016, Pretorius says the company’s focus will be to fully integrate the new high-grade FFG and established low-grade carbon-in-leach (CIL) circuits.
Strong quarter-on-quarter improvements
The company ended the 2015 financial year strongly, with substantially improved final quarter-on-quarter comparisons. Gold production was 9% higher at 40 253oz, due mainly to a 9% rise in throughput to 6 333 000 tonnes. This resulted from delivery on previously-announced plans to improve the availability of infrastructure, the commissioning of new reclamation sites, and drier winter weather conditions.
Operating profit was 26% higher at R122.6 million, a result of the higher gold production, the lower cash operating cost performance, and a slightly higher Rand gold price received.
DRDGOLD Limited (DRDGOLD) is a high-margin, low-risk South African gold producer and a world leader in the recovery of the metal from the retreatment of surface tailings. DRDGOLD has a network of assets that is unrivalled in South Africa and, with its consolidated businesses operating as a single entity, is focused on optimising these assets in order to increase gold production.
DRDGOLD provided jobs for 2 329 people, including 989 employees. The remaining 1 340 people worked for the specialist service providers engaged by the company to provide the expertise required for tailings reclamation and tailings dam management. IN FY2014, the company produced 132 909oz of gold, generated R1 809.4 million in revenue and spent R158.6 million on capital projects. Attributable mineral resources of 37.04Moz and attributable mineral reserves of 1.5Moz were declared.
