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.
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.
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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.
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