Mineral exploration and development company Centamin Egypt Ltd. (CEY.L), Friday, reported a narrower loss for the half-year ended December 31, 2009, benefiting from a Foreign exchange gain recorded in the period compared to hefty loss in the prior year.
Loss for the six months narrowed to US$542 thousand or US$0.05 per share from US$24.43 million or US$2.78 per share last year.
Half yearly results included a Foreign exchange gain of US$2.60 million compared to a hefty loss of US$25.20 million last year. The company also recorded a gain of US$886 thousand on the sale of plant and equipment for the period, while the prior year had a VAT refund of US$10 thousand.
Revenue for the period declined sharply to US$450 thousand from US$2.11 million in the previous year.
Corporate administration expenses for the period improved significantly to US$2.35 million from US$914 thousand last year.
CEY.L shares are currently trading at 113.50 pence, up 2.50 pence or 2.25% on the London Stock Exchange.
For comments and feedback: editorial@rttnews.com