FY2026 results show operating profit up 83% to R6.45 billion, a final dividend of 120 SA cents per share, and initial FY2027 guidance

summarizeSummary

FY2026 operating profit rose 83% to R6.45 billion, a final dividend of 120 SA cents per share was declared, and FY2027 production guidance was set at 160,000–170,000 ounces.

check_boxKey Events · Earnings and Guidance · DRD

• FY2026 Operating Profit Up 83%

  Operating profit climbed to R6,452.0 million from R3,523.6 million, driven by a 40% increase in the average gold price received to R2,289,250/kg.

• Final Dividend Tripled to 120 SA cps

  The board declared a final cash dividend of 120 SA cents per share (FY2025: 40 cents), payable 14 September 2026. Net dividend for ADR holders is approximately 60 US cents per share.

• FY2027 Guidance Issued

  The company expects gold production of 160,000–170,000 oz at a cash operating cost of ~R1,099,000/kg and AISC of ~R1,230,000/kg, with planned capex of ~R3 billion.

• Withok TSF Deferred to End-2029

  Completion of the Withok tailings storage facility has been moved to end-2029 (a six-month delay) after test drilling revealed geological features requiring additional liner measures. Management notes a minor near-term impact but a critical long-term capacity role.

auto_awesomeAnalysis · DRD · Energy & Transportation

A standout FY2026 saw operating profit surge 83% to R6.45 billion, powered by a 40% rise in the average gold price received. The board declared a final dividend of 120 SA cents per share—triple the prior year's 40 cents—and issued FY2027 guidance for 160,000–170,000 ounces of gold production. These results confirm the preliminary EPS range disclosed on 13 August 2026 and add material new details: final audited figures, a dividend declaration, and forward guidance. The Withok TSF project has been deferred to end-2029 due to geological issues, a six-month delay that management says has minor near-term impact but is critical for long-term tailings capacity.