2-27-18 2:42 AM EST | Email Article
   By Oliver Griffin 

Mexico-based silver-and-gold miner Fresnillo PLC (FRES.LN) said Tuesday that net profit in 2017 rose 31% as the company forecast further increases to silver production in 2018.

The mining company said that net profit for the year ended Dec. 31 rose to $560.8 million, from $427 million in 2016. Pretax profit increased 3.2% to $741.5 million, while revenue grew 9% to $2.09 billion, the company said.

Fresnillo declared a final dividend of 29.8 cents a share, up from the 2016 final dividend of 21.5 cents a share.

The company, which in January reported that it produced 58.7 million ounces of silver in 2017, forecast silver production in 2018 in a range between 67 million ounces and 70 million ounces.

Gold production for 2018 is forecast to be in a range of 870,000 and 900,000 ounces, the company said.


Write to Oliver Griffin at oliver.griffin@dowjones.com


(END) Dow Jones Newswires

February 27, 2018 02:42 ET (07:42 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Add a Comment

Try Premium Membership today. Your first 14 days are free of charge. Start my Premium Membership Trial.
Sponsored Links
Buy a Link Now
Sponsor Center
Content Partners