Polyus achieves 12% growth in Gold production
Russia's largest gold mining company in a statement said the company achieved a record 71 percent increase in net income and 12 percent growth in gold production.
Polyus Gold announced plans to decide on a dividend in April after 2012 net profit soared on increased sales volumes and higher gold prices.
Russia's largest gold mining company in a statement said the company achieved a record 71 percent increase in net income and 12 percent growth in gold production.
Last month Russian billionaire Mikhail Prokhorov sold his 38 percent stake in the company to two Russian investors for $3.6 billion, fuelling talk that Polyus would increase dividend payments.
Polyus's net cash position stood at $680 million at the end of last year, the company said on Thursday. Its completed sale of Kazakh and Kyrgyz assets in February should have improved its cash position by $220-235 million, JP Morgan said recently.
"We expect that build-up of strong cash position indicates 2012 dividends are likely to be above minimal dividend payout policy of 20 percent," JP Morgan said in a note on Thursday.
Annual revenue was up 19 percent at $2.85 billion, with earnings before interest, tax, depreciation and amortisation (EBITDA) of $1.38 billion, Polyus said in the statement.
The London-listed company added that it is on track to produce between 1.59 million and 1.68 million troy ounces of gold in 2013.
Sumber :Google
No comments:
Post a Comment