Sandfire Resources delivers US$90m profit on record sales
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The news: Sandfire Resources has posted a full-year net profit after tax of USD90 million ($138 million) after facing a USD19.1 million loss in FY24 as the copper-focused miner generated record sales revenue.
The numbers: The full-year net profit after tax figure has come in behind the market consensus estimate of $100 million, according to Visible Alpha figures.
Sales revenue for FY25 came in at $1.18 billion, which is 26% higher than the $935.2 million posted in FY24. This is in line the market consensus estimate of $1.18 billion, according to Visible Alpha.
No final dividend was declared, in line with FY24 and market expectations.
The context: The company's group copper equivalent production increased by 12% in FY25, although this was 1% below the guidance range as the company's projects faced a "generational rain event in Botswana and associated flooding, and power outages at both Motheo and MATSA".
The company expects group copper equivalent production to grow by 2% to 157 kilo tonnes in FY26. Underlying operating costs per tonne are expected to increase by 10% at the Motheo and MATSA projects to $44 and $86.
What they said: Sandfire CEO and managing director Brendan Harris said the business has transformed in recent years said he's "particularly proud" of his teams response to widespread flooding and power outages.
"Their tenacity and the growing resilience of our operations again shone through as we delivered a 12% increase in group copper equivalent production to 152.4kt," Harris said.
The source: ASX
