Share Prices & Company Research

Market News

19 Jan 2021 | 08:33

Centamin FY revenues surge on strong performance from Sukari

(Sharecast News) - Gold producer Centamin said on Tuesday that full-year revenues had surged thanks to a solid performance throughout 2020. Centamin saw revenues shoot up 26% year-on-year to $829.0m, while quarterly revenue slipped 26% to $150.0m in the three months ended 31 December due to both reduced volumes being sold and improved gold prices.

Annual production from the firm's Sukari Gold Mine was just shy 68,000 ounces, meeting guidance set in October.

However, gold sales for the fourth quarter were down 42% year-on-year due to the group mining lower grade material.

Chief executive Martin Horgan said: "Today's Q4 and subsequent full year 2020 results were delivered in-line with the revised guidance we issued in October.

"This follows the capital markets event we hosted in December, where we presented the conclusions of the Phase 1 Life of Asset review and three-year outlook, detailing clear cost-saving, exploration and productivity initiatives, forming part of our plans to unlock Sukari's potential."

As of 0830 GMT, Centamin shares were up 2.39% at 118.98p.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.