31 jul: Aktier/åbning: Novo holder C20 oppe
31 jul: Dansk ledighed steg med 1500 i juni - NY2
31-07-2012 09:31:00

UPDATE: Fresnillo Committed to Growth Plans as Earnings Fall

Relateret indhold

-- Fresnillo committed to investing in growth projects despite uncertain economic climate

-- Revenue rose as higher gold prices and output offset lower silver prices and output

-- Ebitda fell as cost of sales increased due to commissioning of new mines and higher raw material input costs

-- Interim dividend drops 26% to $0.155 a share

(Adds details throughout.)

By Alex MacDonald

LONDON--Mexican precious metals miner Fresnillo PLC (FRES.LN) said Tuesday that it remains committed to its growth program despite uncertainty in the global economy, and as higher operating costs pushed its net profit down 25% in the first half of the year.

"We consider the global economic climate will remain uncertain as a number of developed countries continue to display signs of recession," said Fresnillo's Chief Executive Jaime Lomelin, who announced his retirement last week.

"However, we remain committed to delivering on the group's production and growth program by investing in productivity, efficiency and exploration," he said.

Fresnillo, the world's largest primary silver producer and Mexico's second largest gold producer, said revenue for the six months to June 30 rose 2.7% on year, to $1.09 billion, as higher gold prices and record gold production more than offset falling silver prices and lower silver output stemming from anticipated lower ore grades at the Fresnillo mine.

But the cost of sales increased by more than a third, pushing earnings before interest, taxes, depreciation and amortization, or Ebitda, down 9.2% on year, to $684 million. Costs rose due in part to start-up expenses associated with its Noche Buena mine, additional operational costs from the Saucito mine and higher labor and material unit costs.

First-half net profit attributable to shareholders fell 25% on year, to $367 million. The interim dividend was cut to $0.155 a share from $0.21 in the same period a year ago.

The London-listed miner reaffirmed that it plans to produce 41 million troy ounces of silver in 2012, broadly flat on year. It plans gold production of 460,000 ounces.

Fresnillo's shares opened Tuesday in London down 1.1%, or 25 pence, at 1,428 pence, resulting in a market capitalization of GBP10.42 billion. Fresnillo's shares are down 4.9% since the beginning of the year.

Write to Alex MacDonald at alex.macdonald@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

July 31, 2012 03:31 ET (07:31 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Novo: EMA-udvalg anbefaler markedsføringstilladelse til Refixia - NY

24-03-2017 13:31:36
Udvalget for humanmedicinske lægemidler (CHMP) ved Det Europæiske Lægemiddelsagentur (EMA) har tildelt Novo Nordisks Refixia en positiv udtalelse og anbefaler en markedsføringstilladelse.Det skriver Novo Nordisk i en fondsbørsmeddelelse.CHMP anbefaler en markedsføringstilladelse til Refixia til unge og voksne med hæmofili B. Til grund for anbefalingen ligger resultater fra udviklingsprogrammet par..

Novo/Exane: Kursmålet skæres til 270 kr.

24-03-2017 10:17:22
Den franske storbank Exane BNP Paribas skærer kursmålet for aktien i Novo Nordisk til 270 kr. fra 295 kr. Anbefalingen er uændret "outperform", viser data fra Bloomberg.Novo-aktien falder fredag 0,4 pct., eller 1 kr., til 233,20 kr. Det dækker dog over en stigning, da aktien ikke længere handles inklusive retten til et udbytte på 4,60 kr./ritzau/FINANSJakob Dalskov +45 33 30 03 35 Ritzau Finans, E..

Aktier/tendens: Mulighed for mere gas til Mærsk i ventet rødt C20

24-03-2017 08:31:54
Det danske aktiemarked kan fredag blive præget af små udsving med en lille overvægt af negative fortegn.A.P. Møller-Mærsks B-aktie var uændret efter torsdagens handel og blev handlet til 11.500 kr. Aktien kan dog gå fra grå til grøn fredag, da der er potentielt gode nyheder til det danske konglomerat.Efter en Nordsø-aftale, der kan redde det ellers lukningstruede Tyra-felt, skriver Jyllands-Posten..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Novo: EMA-udvalg anbefaler markedsføringstilladelse til Refixia - NY
2
Novo er et skridt nærmere vigtigt markedsføringsargument for Tresiba
3
Nordea har fældet hemmelig dom over PostNords kvaler
4
Fredagens aktier: C20 Cap i slutspurt mens Dong steg til vejrs
5
Aktier/Sydbank: Forventningerne til C25 Cap-indekset løftes

Relaterede aktiekurser

Fresnillo PLC ORD USD0.5.. 1.550,80 1,0% Stigning i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
25. marts 2017 12:39:11
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20170324.2 - EUROWEB4 - 2017-03-25 12:39:11 - 2017-03-25 12:39:11 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x