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