Polymetal International plc (POLY.L) reported an improvement in 2011 net income to $290 million or $0.74 per share from the prior year's $239 million or $0.66 per share. On an adjusted basis, full-year net profit was $347 million or $0.89 per share, higher than $247 million or $0.68 per share in 2010.
Pre-tax earnings in 2011 were $409 million, up 33% compared with 2010, reflecting strong revenue growth and controlled cost dynamics.
Revenue for the year advanced 43% to $1.33 billion from $925 million a year ago, driven by a 13% rise in gold equivalent ounces sold and a 26% growth in the average realised gold price.
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