Higher prices and volumes helped the group return to profit and more than triple its cash pile in its year to end-December
Shares of Merafe Resources, the junior empowerment partner in a chrome joint venture with Glencore, surged almost 17% on Wednesday morning, after it said higher prices and volumes helped it return to profit and more than triple its cash pile in 2021.
The group expects to report headline earnings per share of between 66.8c and 67c in its year to end-December, from a loss of 0.8c previously, or a headline profit of about R1.67bn for a group valued at R3.9bn on the JSE...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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