Fresnillo Warns of Challenging Trading in 2019

Date : 05/21/2019 @ 7:45AM
Source : Dow Jones News
Stock : Fresnillo Plc (FRES)
Quote : 893.0  4.6 (0.52%) @ 4:29PM

Fresnillo Warns of Challenging Trading in 2019

Fresnillo (LSE:FRES)
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   By Carlo Martuscelli 
 

Fresnillo PLC (FRES.LN) said Tuesday that it expects trading in 2019 grow more difficult when compared with the prior year.

The precious-metal producer said revenue on an adjusted basis in 2018 totaled $2.2 billion, flat year-on-year. Profit fell, while cash and liquid funds stood at $560.78 million, with debt steady at $201.9 million.

The long-term silver production target of 65 million ounces was not met, said the Mexico-focused miner, commenting that 2018 had been a challenging year.

The company backed its full-year guidance for 2019 despite the previously announced soft production figures for the first quarter.

"Looking ahead, we remain very confident in the long-term outlook for Fresnillo," it said, and added that it is seeing positive results at a number of exploration projects.

 

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

 

(END) Dow Jones Newswires

May 21, 2019 02:30 ET (06:30 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


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