Western Areas operating profit falls

SOUTH African gold producer Western Areas said yesterday its fourth quarter operating profit fell to R11 million (A$1.84 million) from R25.2 million in the previous period, but it intends to keep its 50% stake in the South Deep joint venture.

The company reported a headline loss per share of 15 c for the December quarter compared with a 16c per share profit for the three months ended September.