Kenmare revenues double in first half

FTSE 250 miner Kenmare doubled revenues in the first half and said it expected a significant improvement in production in the latter part of the year.

Revenues were up 95% to $109m from $56m the year before, as the company benefitted from price increases and the falling away of legacy contracts.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Pre-tax profits came in at £38.8m, up from a loss of $14.2m in the same period of 2011.

Earnings per share were 1.61c, rising from the 0.59c loss reported the previous year.

"While the near-term global economic environment remains uncertain, continued industrialisation, and the ensuing urbanisation taking place in emerging economies, are expected to support strong demand for products that consume titanium feedstocks and zircon, " said Managing Director Michael Carvill.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.