Perseus Mining posts 8% HY profit decline to $262m on weaker USD
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The news: Perseus Mining reported an 8% decline in half-year profit after tax to USD185.5 million ($262.8 million) year-on-year, driven by losses on bank balance translations, intercompany loan balances and dividends, primarily due to a weaker US dollar during the period.
The numbers: Revenue was 5% higher to USD608.5 million, while underlying earnings before interest and tax came in at USD315.5 million, compared to USD372.7 million a year ago.
Operating cash flood was at USD193.4 million, while costs of sales increased by 28% to USD293 million.
The company declared an interim dividend of 5 cents per share, an increase from 2.50 cents the prior corresponding period.
The context: The company said half-year profit decline was due to weaker USD during the period, resulting in a foreign exchange loss of USD26.9 million.
Lower underlying earnings were also weighed down by reduced mining property and deferred stripping amortisation as a result of lower ore tonnes mined during the period.
The company forecast its FY26 gold production guidance to be in the range of 400,000 to 440,000 ounces, at an all-in sustaining cost of between USD1,600 and USD1,760 per ounce.
The source: ASX
