LONDON (dpa-AFX) - Kenmare Resources plc (KMR.L) reported profit before tax of $9.83 million for the six months to 30 June 2017 compared to a loss of $49.06 million, previous year. Profit attributable to equity holders was $9.38 million compared to a loss of $47.14 million. Profit per share was $0.09 compared to a loss of $3.39.
First-half revenues increased 82% to $102.4 million, as a result of increased prices and sales volumes. Ilmenite production increased 25% to 504,800 tonnes while zircon production increased 32% to 37,700 tonnes. Total shipments of finished products increased 21% to 535,700 tonnes.
Michael Carvill, Managing Director, stated: 'Kenmare has produced a record one million tonnes of ilmenite in the twelve months to June 2017, whilst improving safety standards, and remains on target for 2017 production guidance. We have also produced record levels of zircon and are capturing more of it in higher quality products. Increased shipments, higher average received prices, and lower unit costs have resulted in H1 EBITDA increasing to $29.8 million.'
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