Shares of Centamin PLC (CELTF.PK,CEY.L,CEE.TO) were losing more than 9 percent in the early morning trading in London after the gold mining company reported Thursday weak net earnings in its first half, while pre-tax profit and adjusted EBITDA increased on higher revenues.
Profit for the period after tax attributable to the owners of the parent dropped to $83.36 million from last year's 90.97 million.
Basic earnings per share were 7.19 US cents, down 9 percent from 7.86 US cents last year.
However, first-half profit before tax grew 2 percent to $117.15 million from last year's $114.80 million.
Adjusted EBITDA was $210.78 million, up 9 percent from last year.
Revenue increased 9 percent $465.10 million from last year's $425.61 million. Annual gold sales of 209,269 ounces, down 5 percent, at an
Gold production was 224,738 ounces, a 2 percent year on year increase, and gold sales were 209,269 oz from the Sukari Gold Mine, down 5 percent. Average realised price was $2,218/oz, up 15 percent from last year.
Further, the Board declared an interim dividend of 2.25 US cents per share. The interim dividend will be paid on September 27 to shareholders on the register on the Record Date of August 30.
In London, Centamin shares were trading at 117.37 pence, down 9.30 percent.
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