Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Medusa Mining H1 Earnings Rise

2/28/2013 2:27 AM ET

Medusa Mining Limited (MML.L) Thursday reported higher earnings for the first half on the back of higher gold production and higher average price received on sale of gold. The company further revised its gold production forecast for the full-year.

For the period, the firm posted net profit of $28.6 million, up from $24 million last year. Basic earnings per share rose to $0.152 from $0.127 last year.

Revenue for the six months stood at $52.4 million, up 28 percent from $40.9 million last year.

The firm produced 32,580 ounces of gold for the half-year, up from 26,780 ounces for the previous corresponding period at an average cash cost of $300 per ounce, higher than last year's costs of $261 per ounce.

Commenting on the production guidance, the firm said, taking into account current year to date production, it now sees gold production for the fiscal year of between 80,000 to 90,000 ounces at anticipated cash costs of $250 per ounce.

Click here to receive FREE breaking news email alerts for Medusa Mining Ltd and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Starbucks Corp. said Thursday after the markets closed that its second quarter profit rose 9.4% from last year, helped by higher revenue. The company's quarterly earnings per share came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. The world's largest specialty coffee retailer also raised its full year earnings outlook. Software giant Microsoft Corp. said Thursday after the markets closed that its third quarter profit fell 6.6% from last year, when results were boosted by special upgrade offer revenues. However, the company's quarterly earnings per share came in above analysts' expectations as did its quarterly revenue. Apple Inc. said Wednesday after the markets closed that its second quarter profit rose 7% from last year, as sales surged and margins improved amid strong sales of its iPhones. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. At the same time, the company gave a slightly downbeat revenue forecast for the current quarter.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.