Polymetal revenues boosted by gold price

Mining company Polymetal International has posted a 41 per cent rise in half-year revenue, largely driven by a strong increase in gold equivalent sold and the average realised gold price.

Mining company Polymetal International has posted a 41 per cent rise in half-year revenue, largely driven by a strong increase in gold equivalent sold and the average realised gold price.

Revenue for the period rose to $767m from $545 the same period the previous year, boosting pre-tax profits from $210.7m to $220.8m, aided by a decline in capital expenditure, from $215m to $171m, but partly offset by an increase in the total cost of sales, up 32% from £261m to £346m.

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