MEXICO CITY (dpa-AFX) - Fresnillo Plc (FRES.L) reported that its net profit for the six months ended 30 June decreased 20.3% to $56.5 million from $70.9 million, prior year. Earnings per share from continuing operations was $8.8 cents per share, down 7.4%. Income tax was $62.0 million, for the period. Profit from continuing operations before income tax increased 136.6% to $127.9 million from $54.1 million, prior year. Excluding the effects of the Silverstream valuation, profit for the period increased 25.3% to $78.8 million. Adjusted earnings per share from continuing operations was $11.8 cents per share, up 40.5%.
First half total revenues increased 5.3% to $1.125 billion, mainly due to higher gold and silver prices and, to a lesser extent, higher volumes of zinc and lead sold. The company said this was partially offset by lower volumes of gold and silver sold and the decrease in zinc and lead prices.
First half silver production was 26.8 moz (including Silverstream), down 2.7% from last year. Silverstream production decreased 14.2%, while gold production decreased 11.8%.
The Board of Directors has declared an interim dividend of 2.3 US cents per share totalling $16.9 million to be paid on 16 September 2020 to shareholders on the register on 7 August 2020.
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