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Centamin profit up in 2013 as production jump offsets weak prices

Reuters, Monday 24 Mar 2014
Views: 1026
Views: 1026

Egypt-focused gold miner Centamin said its core profit rose by one percent in 2013 as higher production offset a sharp fall in gold prices last year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) came in just over $234 million for the year to December, slightly below analysts' consensus of $239 million according to Reuters I/B/E/S.

Centamin production rose by 36 percent in 2013 recording 356,943 ounces, beating its output target by 12 percent and the company aims to grow production further this year.

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