Fresnillo Reports 31% Increase in Net Profit in 2017
February 27 2018 - 2:57AM
Dow Jones News
By Oliver Griffin
Mexico-based silver-and-gold miner Fresnillo PLC (FRES.LN) said
Tuesday that net profit in 2017 rose 31% as the company forecast
further increases to silver production in 2018.
The mining company said that net profit for the year ended Dec.
31 rose to $560.8 million, from $427 million in 2016. Pretax profit
increased 3.2% to $741.5 million, while revenue grew 9% to $2.09
billion, the company said.
Fresnillo declared a final dividend of 29.8 cents a share, up
from the 2016 final dividend of 21.5 cents a share.
The company, which in January reported that it produced 58.7
million ounces of silver in 2017, forecast silver production in
2018 in a range between 67 million ounces and 70 million
ounces.
Gold production for 2018 is forecast to be in a range of 870,000
and 900,000 ounces, the company said.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
February 27, 2018 02:42 ET (07:42 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Fresnillo (LSE:FRES)
Historical Stock Chart
From Jun 2024 to Jul 2024
Fresnillo (LSE:FRES)
Historical Stock Chart
From Jul 2023 to Jul 2024