Hochschild Mining PLC (HOC.L) Wednesday reported profit from continuing operations before tax of $140.11 million, higher than $69.36 million in the same period a year ago, primarily helped by increase in revenue as well as impairment reversal.
The company recorded impairment reversal of $30.23 million for the latest period compared with impairment charges of $13.91 million in the prior year.
Excluding one time items, pre-tax profit increased to $109.33 million from $83.09 million last year.
Net profit from continuing operations rose to $90.89 million or $0.18 per share from $39.52 million or 0.08 per share a year ago.
Before exceptional items, net profit was $60.11 million or $0.12 per share, up from $52.06 million or $0.10 per share a year ago.
Revenue for the period grew 33% to $520.01 million from $391.74 million in the previous year.
For the first six-month period, attributable production was 161,597 gold equivalent ounces or 13.4 million silver equivalent ounces, higher than 152,792 gold equivalent ounces or 12.7 million silver equivalent ounces in the prior-year period.
The company has declared an interim dividend of $1 cent per share.
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