Harmony Gold Mining Reports Rise In Net Profit

Harmony Gold Mining Co

posted a rise in its net profit for the full year. Harmony Gold Mining's net profit came in at 617 million rand ($87 million), versus a loss of ZAR192 million ($24 million) in 2010. Its headline earnings surged to ZAR957 million from ZAR4 million in 2010. Gold output at the groups operations dropped 9% y/y to 1.393 million troy ounces from 1.429 million ounces. Harmony Gold Mining shares fell 1.79% to $13.70 in pre-market trading.