Polymetal says IFRS net profit soars to $381 mln in Jan–June

MOSCOW, Aug 26 (PRIME) -- The net profit of Russian gold producer Polymetal International more than doubled on the year to U.S. $381 million in January–June from $153 million in the same period of 2019, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Wednesday.

“Net earnings were $381 million, with basic earnings per share of $0.81, reflecting the increase in operating profit.  Underlying net earnings increased by 98% to $373 million,” the statement read.

Revenue increased by 21% on the year to $1.135 billion in the period due to high prices for gold and silver, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) went up 53% to $616 million.

For further details, see the company’s statement on its official website:

https://www.polymetalinternational.com/en/investors-and-media/news/press-releases/26-08-2020-a/

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