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.
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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.