skip to content

Interim Results

Hochschild pre-tax profits fall

16 August 2017 07:43

Hochschild Mining's pre-tax profits fell to $39.9 million in the six months to the end of June - down from $60.3m last time.

Revenues of $340.8m were up from $339.3m but adjusted EBITDA fell to $136.0m from $170.3m.

The group said it was on track to deliver record attributable production target of 37.0 million silver equivalent ounces for 2017 and that AISC was expected to be in line with $12.2-12.7 per silver equivalent ounce guidance.

Chief executive Ignacio Bustamante said: "Hochschild Mining continues to deliver a robust operational performance with both production and cost targets for 2017 on track.

"Towards the end of the year, once permits are in place, we can expect further progress with the development of the Pablo vein at the Pallancata deposit as well as several brownfield drilling campaigns across the company's portfolio.

"I am confident that our company has the financial and operational flexibility to meet our upcoming debt commitment, fund an extensive brownfield programme and assess value accretive opportunities as they arise.

Story provided by

Related Company: HOC

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?


Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.