Harmony Gold Warns on Fiscal 2017 Earnings
August 14 2017 - 11:51AM
Dow Jones News
By Tapan Panchal
LONDON--Harmony Gold Mining Co. Ltd. (HAR.JO) said Monday that
fiscal 2017 net profit will be lower than the year-ago period, due
to impairment charges and legal costs.
The mining company said earnings per share for the year ended
June 30 is expected to be between 5 cents and 8 cents, compared
with the 15 cents per share reported for fiscal 2016. However,
excluding exceptional costs, fiscal 2017 earnings per share is
expected to range between 20 cents and 23 cents, higher than the
adjusted earnings per share of 15 cents recorded a year ago.
Harmony plans to record an impairment charge of around $131
million relating to its mining operations and a $70 million
provision in connection with an ongoing litigation settlement.
The South African company plans to release its fiscal 2017
results on Aug. 17.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
August 14, 2017 11:36 ET (15:36 GMT)
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