MEXICO CITY (dpa-AFX) - Fresnillo plc (FRES.L), on Tuesday, reported H1 profit of $117.7 million or $0.107 per share compared to $89.7 million or $0.088 per share last year.
Total revenues for the period increased 10.8% to $1.488 billion from $1.343 billion generated a year ago. Adjusted revenues amounted to $1.560 billion, up 9.0% from the previous year's $1.430 billion.
The company attributed the revenue growth primarily to the higher gold and silver prices and increased volumes of silver, zinc and lead sold, partly offset by the decrease in gold ounces sold.
Fresnillo plc continued to maintain a solid financial position during the period with cash and cash equivalents of US$691.0 million as of 30 June 2024, increasing 29.3% versus 31 December 2023 and decreasing 22.3% versus 30 June 2023 following the repayment of the outstanding 5.5% Senior Notes due in November 2023.
The company's net debt is US$148.2 million as at 30 June 2024 versus the net debt position of US$304.4 million as at 31 December 2023.
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