Harmony Gold posts higher half-year earnings, decides not to pay dividend as it invests in 'growth opportunities'

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Harmony Gold posts higher half-year earnings, decides not to pay dividend as it invests in 'growth opportunities' gold mining Harmony

- Harmony Gold , a senior global gold producer, announced today that for the six-month period ended 31 December 2022 , it recorded an 18% increase in headline earning per share to 293 SA cents per share from 248 SA cents per share in H1FY22.

Group gold production in H1FY23 decreased by 5% to 740,655oz from 778,879oz in H1FY22 mainly due to the closure of Bambanani at the end of FY22. Adjusting for this, group production decreased by 2% or 11,346oz year on year. “As Harmony invests in margin expansion, life-of-mine extension and various other growth opportunities, it is prudent to maintain a strong balance sheet and good liquidity. A decision has therefore been taken to not pay an interim dividend for this reporting period,” the company noted in a press release.

 

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