LONDON (dpa-AFX) - Kenmare Resources plc (KMR.L) reported that its fiscal 2018 pretax profit improved to $56.10 million from $18.45 million, prior year. Profit to equity holders increased to $50.87 million from $19.37 million. Earnings per share was $0.46 compared to $0.18. The Group recorded a 54% increase in EBITDA to $93.3 million.
Fiscal year 2018 revenue improved to $262.20 million from $208.30 million, prior year. The company said the 26% increase in revenues was primarily due to increased volumes shipped and higher average received prices.
Michael Carvill, Managing Director, said: '2018 was Kenmare's third consecutive year of achieving our production guidance and delivering record shipment volumes. We recorded a 54% increase in EBITDA and a year-end net cash position of $13.5 million, compared to $34.1 million of net debt at the end of 2017.'
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