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Pan African Resources expects uplift to EPS for second half of 2018

In an update for the six months ended 31 December, the firm said its EPS and headline EPS from continuing operations were expected to range between 3% to 13% higher than a year ago

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The EPS and HEPS range was forecast at between 0.37p and 0.41p per share

Pan African Resources plc (LON:PAF) said it expects its earnings per share (EPS) for the second half of 2018 to be higher year-on-year.

In a trading update for the six months ended 31 December, the gold miner said its EPS and headline EPS (HEPS) from continuing operations were expected to range between 3% to 13% higher than the 0.36p per share reported a year ago, resulting in an EPS and HEPS range of between 0.37p and 0.41p.

WATCH: Pan African Resources reports sharp increase in gold production in first half

For the group’s combined operations, which include discontinued mining at Evander Gold Mining Proprietary Limited, EPS was expected to be 112% to 122% higher at between 0.38p and 0.4p per share from 0.18p previously, while HEPS was predicted to be between 90% to 100% higher at the same range from 0.2p the year before.

Pan African added that during the six-month period the value of the South African rand, in which it conducts material transactions, had depreciated by around 4% year-on-year and that this should be considered when comparing results for the period.

Quick facts: Pan African Resources plc

Price: 24.8 GBX

AIM:PAF
Market: AIM
Market Cap: £478.23 m
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