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Centamin Q2 Profit Climbs, Backs FY Production View; Stock Up

Gold miner Centamin Plc (CELTF.PK,CEY.L,CEE.TO) reported Wednesday that its second-quarter profit before tax increased 17 percent to $25.73 million from last year's $21.98 million.

Basic earnings per share were 0.54 US cents, down 44 percent from 0.97 US cents a year ago.

EBITDA grew 15 percent to $52.65 million from last year's $45.77 million.

Gross revenue for the quarter increased 16 percent to $147.33 million from prior year's $127.02 million. Revenue climbed 18 percent to $145.67 million from last year's $123.93 million.

Gold produced in the quarter climbed 27 percent to 117,913 ounces from 92,803 ounces last year. Gold sold grew 16 percent from last year to 112,764 ounces.

Average realised gold price grew 1 percent to $1,307 per ounce.

Further, the Board declared an interim dividend of 4 US cents per share, bringing cumulative dividends paid to shareholders to approximately $500 million.

Looking ahead, Centamin maintained annual guidance for 2019, and continues to expects gold production of 490,000-520,000 ounces.

Further, Centamin baseline outlook for production in 2020 and 2021 is of 510,000-540,000 ounces per annum.

In London, Centamin shares were trading at 127.90 pence, up 4.88 percent.

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