Pan African Resources PLC - gold producer - For the year to the end of June, pretax profit rises by 13% to USD52.2 million from USD46.2 million, on revenue up 26% to USD274.1 million from USD217.7 million the year before. Operationally, gold output up by 4.1% to 179,457 ounces, beating revised production guidance of 176,000 ounces, while gold sales up 1.3% to 173,864 ounces. Gold price rises substantially by 24% to USD1,574 per ounces from USD1,266. Proposes final dividend of ZAR312.9 million or USD18.9 million, equal to 14 rand cents per share, or 0.84 US cents. This is up from 0.15 cents the year before. Looking ahead, production guidance for 2021 financial year at 190,000 ounces.
Current stock price: London at 25.7 pence, Johannesburg at ZAR5.43
Year-to-date change: London and Johannesburg up more than 100%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Pan African (PAF)