Centamin, a gold mining company, has reported a strong second-quarter performance, with an increase in both pretax profit and revenue. In the quarter, pretax profit rose to $70.5 million, up from $44.3 million in the same period last year.
The company’s revenue also saw positive growth, climbing 7% to $220.4 million compared to the previous year. This increase can be attributed to the rise in total gold sold, which went up by 4% to 111,693 ounces. Additionally, the all-in sustaining costs (AISC) decreased to $124,299.
Looking ahead, Centamin is confident in its full-year outlook. The company anticipates a range of 450,000-480,000 ounces of gold production, with cash costs ranging from $840 to $990 per ounce and AISC of $1,250-$1,400 per ounce sold.
Chief Executive Martin Horgan expressed optimism about the company’s future prospects, stating, “Our operational track record and strong balance sheet put Centamin in a robust position to deliver the next stage of growth, including further optimization at Sukari and continued development of the Doropo project.”
In line with its dividend policy, Centamin has declared an interim dividend of 2.0 cents per share.
