MEXICO CITY (dpa-AFX) - Fresnillo plc (FRES.L) on Tuesday reported attributable profit of $70.2 million for the six months ended 30 June 2019, down 69.5 percent from $230.0 million in the prior-year period. Earnings per share fell to $0.095 from $0.311 last year.
Attributable profit, excluding post-tax Silverstream revaluation effects, fell 74.6 percent to $62.2 million. Earnings per share, excluding post-tax Silverstream revaluation effects, were $0.084, compared to $0.333 in the prior-year period.
Total revenues for the period decreased 10.1 percent to $1.00 billion from $1.12 billion in the prior-year period. Adjusted revenues declined 10.2 percent to $1.07 billion, reflecting lower volumes and lower prices.
The company noted that its silver production of 27.6 moz (including Silverstream) was down 10.4 percent, while gold production of 432 koz declined 7.1 percent.
Fresnillo's board of directors declared an interim dividend of 2.6 cents per share totaling $19.2 million, which will be paid on 6 September 2019 to shareholders on the register on 9 August 2019. The interim dividend will be paid in UK pounds sterling to shareholders, unless a shareholder elects to receive dividends in US dollars.
Fresnillo noted that its full-year consolidated production guidance was recently revised as stated in its production report dated July 17.
Total gold production guidance for the full year was decreased around 3 percent to 880 thousand to 910 thousand ounces, while total silver production guidance (including Silverstream) was reduced about 5 percent to a range of 55 million to 58 million ounces.
The company said it will continue prioritising cost reduction initiatives and focusing on increasing productivity.
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