Pan African EPS Up 83% in Six Months

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Shares of gold explorer and producer Pan African Resources (LSE:PAF) are trading 8.1% higher than yesterday’s close to 16.75 pence after the company released Wednesday its earnings per share (EPS) topped 83% more than last year’s 0.55 pence for the six month period ending 31 December 2011.

Headline earnings per share reached 93% higher than the previous year for the same period.

Furthermore, taking into account exchange rates between Pound Sterling (GBP) and South African Rand (ZAR), the EPS increased by 97% at an average rate of 12.06 ZAR to the GBP. Using the same rate, headline EPS increased 107%.

The figures are in contrast with 5.97 cents per share for 2010 half year at an average rate of 11.18 ZAR to the GBP.

2011 Performance

Pan African Resources has been making profits with gross revenue from gold sales in 2011 reached £79.2 million, up by 15.32% from 2010 sales of £68.5 million.

Profits made for 2011 was £17.2 million from £14.3 million from the previous year or an increase of 20.28%.

Dividends of 0.5135 pence a share were given for 2011 compared to 0.3723 pence paid in 2010, or a 37.92% increase.

The company has a P/E ratio of 12.92 and an EPS growth rate of 15.38%.

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