DRAGON MINING releases interim results with a post-tax profit of AUD 1.971 million, a year-on-year increase of 7480.77%
DRAGON MINING announced its interim results as of June 30, 2024, with customer revenue of AUD 30.678 million, a year-on-year decrease of 7.47%; net profit after tax was AUD 1.971 million, a significant increase of 7480.77% year-on-year; basic earnings per share were 1.25 Australian cents. The increase in net profit after tax was mainly attributed to the high average gold price, reduced production depreciation and amortization expenses, and other income of AUD 1.6 million
According to the Zhitong Finance APP, DRAGON MINING (01712) announced its interim results for the six months ended June 30, 2024. The group achieved customer revenue of AUD 30.678 million during the period, a decrease of 7.47% year-on-year; post-tax profit reached AUD 1.971 million, an increase of 7480.77% year-on-year; basic earnings per share were 1.25 Australian cents.
The announcement stated that the significant increase in post-tax net profit compared to the corresponding period was mainly due to the higher average gold price during the reporting period and the following factors: a decrease in depreciation and amortization expenses based on production during the reporting period, as a result of: revising the throughput limit of the Vammala license to a maximum of 300,000 tons per year; and dismantling the ball mill at the Vammala plant in the first quarter of 2024. Other income of AUD 1.6 million, representing the net income from the cancellation of the crusher agreement; and fair value gains recognized on the group's 2.5829 million shares in Aurion Resources Limited (TSXV stock code: AU) during the reporting period
