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Gold miner Centamin's 2nd quarter core profit nearly halves
August 14, 2014 / 6:06 AM / 3 years ago

Gold miner Centamin's 2nd quarter core profit nearly halves

Aug 14 (Reuters) - Gold miner Centamin Plc’s second-quarter core earnings nearly halved as it mined lower-grade ore at its key Sukari mine in Egypt.

The company said core earnings, or earnings before interest, taxation, depreciation and amortisation (EBITDA), fell 49 percent to $32.6 million for the quarter ended June 30 from a year earlier.

However, Centamin, which mines gold from its only producing mine Sukari, maintained its full-year production guidance of 420,000 ounces of gold at cash cost of $700 per ounce.

Quarterly production fell 13 percent to 81,281 ounces of gold. The company also said it would pay a maiden interim dividend of 0.87 cents per share. (Reporting by Karen Rebelo in Bangalore; Editing by Gopakumar Warrier)

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