Sandfire Resources nearly doubles 1H profit, retains FY26 guidance
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The news: Copper producer Sandfire Resources has delivered an 88% jump in first-half statutory profit to USD97.1 million ($137.9 million) despite reporting a “slightly softer start to the year”.
The numbers: The result came in above consensus estimates of USD90.9 million, according to Visible Alpha data.
Sales revenue was 17% higher year on year to USD672.1 million, shy of average forecasts at USD674.2 million.
The miner raised its capital expenditure guidance by $10 million to $240 million, due to the planned ramp-up of its Kalkaroo copper-gold project over the remainder of FY26.
Sandfire also adjusted its exploration and evaluation expenditure guidance to include $2 million to fund its planned regional program in the Curnamona province of South Australia, and an additional $3 million to further progress the Black Butte project in Montana, USA.
The source: ASX
