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Pan African warns exchange rate hampered its full-year earnings

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JSE- and Aim-listed gold miner Pan African Resources expects to report a 15% to 30% year-on-year decrease in headline earnings per share (HEPS) for the financial year ended June 30. The company advises shareholders in a trading statement issued on September 1 that HEPS will likely be between $0.0295 and $0.0335, compared with HEPS of $0.0339 posted in the prior year.

JSE- and Aim-listed gold miner Pan African Resources expects to report a 15% to 30% year-on-year decrease in headline earnings per share for the financial year ended June 30.

Pan African cites the 16.8% depreciation in the average rand:dollar exchange rate in the year as the main reason for its earnings decline.

 

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