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Tharisa PLC boss ‘very pleased to post a record performance’

Wednesday, November 30, 2016 9:17
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(Before It's News)

South Africa–based chrome and platinum miner Tharisa PLC (LON:THS) confirmed it will pay a maiden dividend, as it unveiled doubled pre-tax profits.

The company’s enjoyed a sparkling year which saw profit before tax more than double to US$22.0mln in the year to the end of September from US$9.6mln the year before.

Underlying earnings, or EBITDA, rose 48% to US$43.0mln from US$29.0mln the previous year, despite an 11% decline in revenue to US$219.7mln from US$246.8mln.

Chief executive Phoevos Pouroulis tells Proactive: ”Very pleasing to post a record performance in terms of profitability with headline earnings per share up to 6 cents, an increase of 200% year on year, allowing us to pay this 1 cent  per share dividend.”

”2016 was always going to be a watershed year with us achieving steady-state production in terms of chrome concentrate of 1.2 million tonnes and PGM concentrate production at 132.6 thousand ounces. That increase in productivity albeit in a very subdued commodity price environment has led to record performance”.

Story by ProactiveInvestors

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