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Anglo Asian Mining hikes divided as stronger gold price boosts profit

By BFN News | 01:34 PM | Wednesday 23 September, 2020


Resources company Anglo Asian Mining posted a 15% rise in first-half profit after it benefited from a rise gold prices. Pre-tax profit for the six months through June increased to $11.8m, up from $10.3m on-year, as revenue rose 5.8% to $45.8m. The rise in sales came even as output fell 19% to 32,501 gold equivalent ounces. Anglo Asian Mining declared an interim dividend of 4.5c per share, up 29% on-year, and said it would consider a special dividend in the first quarter of 2021. The company said it expected its financial performance to significantly improve in the second half, due to increased production and precious metal prices remaining higher than in the first half. It kept its annual output target at between 75,000 and 80,000 gold equivalent ounces, while maintaining annual revenue guidance of over $100m. At 1:34pm: (LON:AAZ) Anglo Asian Mining PLC share price was +14.5p at 140.5p Story provided by StockMarketWire.com

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