Fresnillo Plc (FRES.L) reported Tuesday that its fiscal 2022 profit before income tax dropped 59.4 percent to $248.6 million from last year's $611.5 million.
Profit from continuing operations of $283.6 million was down 57.5 percent as a result of lower gross profit and higher exploration expenses.
Earnings per share excluding post-tax Silverstream effects were $0.351, down 38.6 percent from $0.572 a year ago.
Revenue decreased 10 percent to $2.43 billion from last year's $2.70 billion, due to the lower adjusted revenue combined with higher treatment and refining charges. Adjusted revenue was $2.60 billion, down 8.8 percent.
Silver Production was 53,740 kOz , up 1.2 percent from last year, while gold production fell 15.3 percent to 635,926 Oz, primarily due to a lower recovery rate as higher volumes.
Further, the company announced a final dividend of 13.3 US cents per share, bringing the total dividend for the year to 16.7 US cents per share.
Looking ahead for fiscal 2023, Fresnillo projects attributable silver production to be in the range of 57.0 to 64.0 moz, including Silverstream, and attributable gold production to be in the range of 590 to 640 koz.
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