Caledonia Mining Corporation Plc (CMCL.L), a Gold producer focused on Zimbabwe, on Monday reported a rise in pre-tax income for the second-quarter, supported by increased revenue, higher Gold output, and improved prices.
For the three-month period to June 30, the precious metal explorer posted a pre-tax income of $15.499 million, higher than $1.524 million, reported for the same period last year.
Excluding items, profit per basic share surged to $0.51 per share from prior year's $0.10 per basic share.
Net profit stood at $8.429 million or $0.43 per share as against previous year's loss of $0.513 million or $0.01 per share in 2023.
Operating profit was $16.293 million, compared with $2.581 million a year ago.
Revenue was $50.107 million, up from $37.031 million in the previous year.
Looking ahead, for the full year, Caledonia said it is on track to post Gold output at Blanket within its prior guidance of 74,000 to 78,000 ounces.
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