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Taung Gold Swings to Profit; Shares Fall 3%

MT Newswires ·  07/01 10:16

02:44 AM EDT, 06/30/2022 (MT Newswires) -- Taung Gold International (HKG:0621) swung to profit in fiscal year 2022 on a reversal of its segment loss from its gold exploration operations, according to a Tuesday stock filing.

The construction company posted an attributable profit of HK$45.1 million ($5.8 million) for the year through March 31, or a HK$0.0062 earnings per share, compared with a loss of HK526.2 million, or HK$0.0292 loss per share, a year ago.

Segment profit from gold exploration and development in South Africa came to HK$102.9 million, compared with a loss of HK$649.6 million a year ago.

Taung Gold's stock eased over 3% in Thursday's afternoon trading.

Price (HKD): $0.03, Change: $0.00, Percent Change: -3.45%

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