DRDGOLD interim results 31 December 2011
Revenue for the interim period ended 31 December 2011 rose to R912.4 million (R674.8 million) and net operating profit jumped to R274.3 million (R119.4 million). Net profit for the period attributable to ordinary shareholders increased to R200.7 million (R31.9 million), while headline earnings per share from continuing operations improved to 27cps (6cps).
No dividend has been declared for the period under review.
The company is pleased to report that its operations did well to maintain gold production during the quarter under review. The "settling in" at various points in the Ergo circuit throughout the quarter - with new reclamation sites coming on stream and the ongoing integration of the remaining Crown operations into the Ergo circuit through the new Crown/Ergo pipeline - went better than anticipated. The company experienced less volatility in volume flow than expected and production was stable. It is also pleasing to report that the quarter was fatality-free, and at Ergo no accidents resulting in injury occurred. Another highlight for was the transfer of the company's United States ("US") listing from NASDAQ to the New York Stock Exchange ("NYSE"). In so doing, the company looks forward to leveraging the NYSE's considerable knowledge and experience of the US investing community to create a better understanding of DRDGOLD's investment proposition, resulting in more active participation in our ADR programme and thus, appreciation in its value.