PLS Group posts weaker-than expected HY profit
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The news: Lithium producer PLS Group, formerly named Pilbara Minerals, has reported first-half statutory profit after tax of $33 million.
The number: Analysts were expecting a half-year profit of $72.7 million, according to Visible Alpha data, after the company delivered a $69 million loss in the prior corresponding period.
The miner reported a 47% increase in first-half revenue to $624 million, topping average forecasts of $608.3 million, citing higher sales volume and realised pricing.
Underlying earnings rose 241% to $253 million, while unit operating cost decreased 8% to $563/t.
The company did not declare an interim dividend.
The context: Net profit after tax of $33 million included a non-cash write down of $16 million and a $23 million equity-accounted share of PLS losses.
CEO Dale Henderson attributed the earnings improvement to higher realised pricing, reliable operating performance and continued cost discipline.
He said the board would be well positioned to consider a dividend in FY26, subject to lithium prices and ongoing free cash flow generation.
The source: ASX
