Northam final results June 2018
Sales revenue jumped to R7.6 billion (R6.9 billion) whilst gross profit grew to R823.3 million (R614.0 million). Loss for the year widened to R705.0 million (loss of R635.9 million). In addition, headline loss per share worsened to 200.5 cents per share (loss of 181.9 cents per share).
Given the continuing difficult conditions in the PGM mining industry, and taking into consideration the cash requirements for the development of the group's project pipeline and acquisition of platinum assets, the board has resolved not to declare a dividend for F2018 (2017: RNil cents per share).
Notice of annual general meeting
The annual general meeting ("AGM") of Northam shareholders will be held at Glenhove Conferencing, 52 Glenhove Road, Melrose Estate, Johannesburg, South Africa on Tuesday, 6 November 2018 at 10:00 to transact the business as stated in the notice of AGM, forming part of the abridged annual report 2018 ("notice and abridged annual report 2018").
Shareholders are advised that the notice and abridged annual report 2018, containing the summarised audited financial statements for the year ended 30 June 2018, will be distributed electronically to shareholders today, 7 September 2018, whilst the physical mailing process of the notice and abridged annual report 2018 is expected to be completed by no later than Friday, 14 September 2018.
The annual integrated report 2018, containing the full audited annual financial statements incorporating the auditors' report in which Ernst & Young Inc. expressed an unmodified audit opinion and the notice and abridged annual report 2018 are available on the following link: www.northam.co.za/investors-and-media/publications/annual-reports or can be obtained from the company's registered office on request.