There has been comment in the media recently about the DRD Share Option Scheme and Directors’ remuneration that is not significantly inaccurate and is sure to have raised some eyebrows.
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Continued good cost containment, together with a stronger gold price, led to a 29% rise in cash operating profit for the quarter. Significant reductions in both corporate and financing costs led to a R 35.0 million (US$ 4.1 million) increase in profits before tax, to R 33.2 million (US$ 3.9 million). Headline earnings per share were 15 SA cents (2 US cents) per share compared with 4 SA cents last quarter.
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DRDGOLD Limited is a medium-sized, unhedged gold producer, South Africa’s fourth-largest.