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Centamin profit up as production jump offsets weak prices
March 24, 2014 / 7:50 AM / in 4 years

Centamin profit up as production jump offsets weak prices

LONDON, March 24 (Reuters) - Egypt-focused gold miner Centamin said its core profit rose by one percent in 2013 as higher production offset a sharp fall in gold prices last year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) came in just over $234 million for the year to December, slightly below analysts’ consensus of $239 million according to Reuters I/B/E/S.

Centamin production rose by 36 percent in 2013, beating its output target by 12 percent and the company aims to grow production further this year. (Reporting by Silvia Antonioli; editing by Stephen Eisenhammer)

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