LONDON (dpa-AFX) - Kenmare Resources plc (KMR.L) reported that its profit before tax for the six months ended 30 June 2024 dropped to $27.70 million from $77.50 million in the same period last year.
Profit attributable to equity holders for the period was $20.88 million or $0.23 per share down from $67.78 million or $0.70 per share in the prior year.
Revenue for the period declined to $165.08 million from $242.88 million in the prior year.
The Board has approved an interim 2024 dividend of 15 US cents per share compared to 17.5 US cents per share paid last year. The company targets a full year dividend towards the upper end of the 20-40% profit after tax payout range. The Company will pay the interim dividend on 11 October 2024 to shareholders of record at the close of business on 20 September 2024.
Kenmare said it is on track to achieve 2024 guidance across all stated metrics, including 950,000-1.05 million tonnes of ilmenite production, with higher forecast grades supporting production expectations in the second-half.
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