(Adds details, share movement)
Aug 20 Silver miner Hochschild Mining Plc
reported a 4 percent rise in first-half adjusted core
earnings, helped by its aggressive cost-cutting programme and
increased output from its mines in Peru and Argentina.
Hochschild's adjusted earnings before interest, tax,
depreciation and amortisation (EBITDA) rose to $94.3 million,
from $90.4 million a year earlier.
Net revenue fell 8.6 percent to $282 million for the six
months ended June 30.
The miner, which cancelled dividend payments until its
financial situation improves, said the capital required to bring
its flagship Inmaculada gold and silver project in southern Peru
to production restricted payment of an interim dividend.
Hochschild, which has been battling rising costs and falling
precious metal prices, backed its production target for the year
and said the Inmaculada project is set to be commissioned at the
end of the year.
Attributable silver equivalent production from the company's
three underground mines in Peru and Argentina for the period
rose 3 percent to 11.85 million pounds, Hochschild said in July.
Hochschild's shares rose 1.7 percent to 162.7 pence in early
trade on the London Stock Exchange.
(Reporting by Abhiram Nandakumar in Bangalore; Editing by