VIENNA (dpa-AFX) - Centamin Plc (CELTF.PK, CEY.L, CEE.TO) reported that its third-quarter pretax profit was $93.7 million compared to $6.2 million, last year. Profit attributable to owners of the parent increased year-over-year to $64.9 million or 5.60 cents per share from $6.3 million or 0.54 cents per share. Earnings per share before profit share was 8.075 cents compared to 0.537 cents.
Third-quarter revenue increased year-over-year to $200.85 million from $118.53 million, a year ago. Gold production of 148,674 ounces was 41% higher than prior year. The company said its full year 2016 production is expected towards the upper end of guidance of between 520,000 and 540,000 ounces.
Andrew Pardey, CEO, stated: 'As a result of the significant cash generation from Sukari, profit share commenced during the quarter and the total advance payments made to date of US$28.75 million were recovered. Future distributions will take into account ongoing cash flows, historic costs that are still to be recovered and any future capital expenditure. Subsequent to the period end a further distribution of profit share of US$6.67m was made to EMRA.'
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