REG-Pan African Resources Plc: Interim Results for the 6 months ended 31 Dec 2017 <Origin Href="QuoteRef">PAFR.L</Origin> - Part 3
13/02/2018 07:05
- Part 3: For the preceding part double click ID:nPRrC403Bb
Revenue
Gold sales (Note 1) 700.3 762.6 - - - - 1,462.9
Platinum sales - - - - 24.7 (24.7) -
Coal sales - - - - - - -
Realisation costs (2.9) (24.2) - - - - (27.1)
On - mine revenue 697.4 738.4 - - 24.7 (24.7) 1,435.8
Gold cost of production (564.1) (663.9) - - - - (1,228.0)
Platinum cost of production - - - - (28.2) 28.2 -
Coal cost of production - - - - - - -
Depreciation (38.3) (66.5) - - - - (104.8)
Mining Profit 95.0 8.0 - - (3.5) 3.5 103.0
Other (expenses)/income (Note 2) (7.7) 20.0 (25.6) - 0.7 (0.7) (13.3)
Profit on disposal of investment - - - - - - -
Loss on sale of asset held for sale - - - - (4.9) 4.9 -
Royalty costs (2.9) (3.2) - - - - (6.1)
Net income / (loss) before finance income and finance costs 84.4 24.8 (25.6) - (7.7) 7.7 83.6
Finance income 1.2 7.5 3.2 1.4 0.2 (0.2) 13.3
Finance costs - - (0.2) (14.1) - - (14.3)
Profit /(loss) before taxation 85.6 32.3 (22.6) (12.7) (7.5) 7.5 82.6
Taxation (9.5) (2.1) (5.7) (0.3) 0.7 (0.7) (17.6)
Profit /(loss) after taxation 76.1 30.2 (28.3) (13.0) (6.8) 6.8 65.0
Profit/(loss) after taxation from discontinued operations - - - - - (6.8) (6.8)
Profit /(loss) after taxation before inter-company charges 76.1 30.2 (28.3) (13.0) (6.8) - 58.2
Inter-company transactions
Management fees (14.6) (3.3) 18.9 (1.0) - - -
Inter-company interest charges (4.4) (5.0) (3.0) 12.4 - - -
Profit /(loss) after taxation after inter-company charges 57.1 21.9 (12.4) (1.6) (6.8) - 58.2
Segmental assets (Total assets excluding goodwill) 1,258.8 3,840.3 171.7 86.7 - - 5,357.5
Segmental liabilities 463.9 882.4 43.8 777.3 - - 2,167.4
Goodwill 303.5 - - - - - 303.5
Net assets (excluding goodwill) 794.9 2,957.9 127.9 (690.6) - - 3,190.1
Capital expenditure 71.4 619.0 0.6 - 6.0 - 697.0
31 December 2016
Continuing operations Discontinued operations
Barberton Mines Evander Mines Corporate Funding Company Phoenix Uitkomst (Note 3) Reclassification Group
ZAR million ZAR million ZAR million ZAR million ZAR million ZAR million ZAR million ZAR million
Revenue
Gold sales (Note 1) 872.9 737.9 - - - - - 1,610.8
Platinum sales - - - - 42.5 - (42.5) -
Coal sales - - - - - 225.0 (225.0) -
Realisation costs (6.0) (21.7) - - - - - (27.7)
On - mine revenue 866.9 716.2 - - 42.5 225.0 (267.5) 1,583.1
Gold cost of production (526.2) (639.4) - - - - - (1,165.6)
Platinum cost of production - - - - (41.1) - 41.1 -
Coal cost of production - - - - - (189.0) 189.0 -
Depreciation (44.1) (57.3) - - (7.7) (6.2) 13.9 (101.4)
Mining Profit 296.6 19.5 - - (6.3) 29.8 (23.5) 316.1
Other (expenses)/income (Note 2) 80.1 (9.3) (36.4) 0.5 1.4 2.6 (4.0) 34.9
Profit on disposal of investment - - 4.6 - - - - 4.6
Loss on sale of asset held for sale - - - - - - - -
Royalty costs (13.0) (3.7) - - - (0.6) 0.6 (16.7)
Net income / (loss) before finance income and finance costs 363.7 6.5 (31.8) 0.5 (4.9) 31.8 (26.9) 338.9
Finance income (0.2) 0.1 0.3 0.9 - 0.1 (0.1) 1.1
Finance costs - - - (19.0) - (0.3) 0.3 (19.0)
Profit /(loss) before taxation 363.5 6.6 (31.5) (17.6) (4.9) 31.6 (26.7) 321.0
Taxation (95.8) 1.5 4.0 - 0.9 (8.5) 7.6 (90.3)
Profit /(loss) after taxation 267.7 8.1 (27.5) (17.6) (4.0) 23.1 (19.1) 230.7
Profit/(loss) after taxation from discontinued operations - - - - - - 19.1 19.1
Profit /(loss) after taxation before inter-company charges 267.7 8.1 (27.5) (17.6) (4.0) 23.1 - 249.8
Inter-company transactions
Management fees (11.6) (10.2) 24.8 - (1.2) (1.8) - -
Inter-company interest charges (0.7) (5.8) (3.4) 9.1 0.8 - - -
Profit /(loss) after taxation after inter-company charges 255.4 (7.9) (6.1) (8.5) (4.4) 21.3 - 249.8
Segmental assets (Total assets excluding goodwill) 1,172.3 2,941.4 133.1 (40.0) 192.6 273.3 - 4,672.7
Segmental liabilities 476.0 962.9 47.0 512.0 11.3 79.3 - 2,088.5
Goodwill 303.5 - - - - - - 303.5
Net assets (excluding goodwill) 696.3 1,978.5 86.1 (552.0) 181.3 194.0 - 2,584.2
Capital expenditure 83.5 111.8 0.3 - 2.9 5.0 - 203.5
Note 1: All gold sales were made in the Republic of South Africa and the
majority of revenue was generated from selling gold to South African financial
institutions through the group's Funding Company.
Note 2: Other (expenses)/income exclude inter-company management fees and
dividend received.
Note 3: The disposal of Pan African Resources Coal Holdings Proprietary
Limited and Uitkomst was completed on 30 June 2017.
Note 4: The disposal of Phoenix was completed on 7 November 2017.
Contact information
Corporate Office The Firs Office Building 1st Floor, Office 101 Cnr. Cradock and Biermann Avenues Rosebank, Johannesburg South Africa Office: + 27 (0) 11 243 2900 Facsimile: + 27 (0) 11 880 1240 Registered Office Suite 31 Second Floor 107 Cheapside London EC2V 6DN United Kingdom Office: + 44 (0) 207 796 8644 Facsimile: + 44 (0) 207 796 8645
Cobus Loots Pan African Resources PLC Chief Executive Officer Office: + 27 (0) 11 243 2900 Deon Louw Pan African Resources PLC Financial Director Office: + 27 (0) 11 243 2900
Phil Dexter St James's Corporate Services Limited Company Secretary Office: + 44 (0) 207 796 8644 John Prior / Paul Gillam Numis Securities Limited Nominated Adviser and Joint Broker Office: +44 (0) 20 7260 1000
Sholto Simpson One Capital JSE Sponsor Office: + 27 (0) 11 550 5009 Ross Allister/ James Bavister / David McKeown Peel Hunt LLP Joint Broker Office: +44 (0) 207 418 8900
Julian Gwillim Aprio Strategic Communications Public & Investor Relations SA Office: +27 (0)11 880 0037 Jeffrey Couch/Neil Haycock/Thomas Rider BMO Capital Markets Limited Joint Broker Office: +44 (0) 207 236 1010
Bobby Morse and Chris Judd Buchanan Public & Investor Relations UK Office: +44 (0)20 7466 5000 paf@buchanan.uk.com Website: www.panafricanresources.com
Copyright (c) 2018 PR Newswire Association,LLC. All Rights ReservedRecent news on Pan African Resources
See all newsREG-Pan African Resources Plc: Unaudited Interim financial results for the six months ended 31 december 2023
AnnouncementREG-Pan African Resources Plc: Unaudited Interim financial results for the six months ended 31 december 2023
AnnouncementREG-Pan African Resources Plc: Trading Statement
AnnouncementREG-Pan African Resources Plc: Holding(s) in Company
AnnouncementREG-Pan African Resources Plc: Operational Update for the Half Year ended 31 December 2023 (H1 FY2024)
Announcement