Platinum producer Lonmin Plc. (LMI.L, LNMIF.PK) said its profit before tax for the half year surged to $54 million from $18 million a year ago.
The firm posted a profit of $88 million for the period, including a tax credit of $34 million. This compares with last year's loss of $34 million, which was impacted by a tax expense of $52 million.
On a per share basis, earnings were 13.3 cents compared to a loss of 6.3 cents, while underlying earnings were 12.3 cents versus a loss of 3.7 cents.
Revenue for the six-month period declined to $735 million from last year's $715 million.
The group said it mined 5.7 million attributable tonnes, realised 366,059 ounces of Platinum in concentrate and sold 326,142 ounces of Platinum in the six months period.
Total tonnes mined in the second quarter from Marikana underground operations were 2.6 million, a decrease of 6.5 percent from last year. Production at the Karee operations decreased by 3.0 percent, while Westerns production declined by 6.7 percent, with Middelkraal registering 3.0 percent decline from last year.
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