Pan African more than doubles earnings in second half

(Sharecast News) - Precious metals producer Pan African Resources said it expected earnings to more than double in the second half of its trading year.Pan African told investors on Wednesday that earnings per share and headline EPS from continuing operations would come in between 3% and 13% higher than the 0.36p per share recorded a year earlier at 0.37p to 0.41p.The AIM-listed group also said it expects to record earnings per share 112% - 122% higher from its combined operations, which includes its discontinued mining operations at Evander Gold Mining, of between 0.38p and 0.4p per share, while headline earnings were predicted to be 90% - 100% higher year-on-year.Pan African, which also noted that a roughly 4% depreciation of the South African rand during the six-month period had impacted the group's earnings in the half, will post its unaudited interim results for the period ended 31 December on 20 February.As of 0920 GMT, Pan African shares were up 2.85% to 10.96p.