Anglo Asian Mining PLC (LON:AAZ) has reported record revenues in 2019 and maintained its production forecasts for 2020 despite the coronavirus pandemic.
For the year ended December 31, 2019, the Azerbaijan-focused miner reported a pre-tax profit of US$30.1mln, up 19% on the prior year, while revenues increased 2% to a record level of US$92.1mln.
READ: Anglo Asian Mining on track to hit US$100mln revenue target
The company also declared a final dividend of US$0.045 per share, giving a total dividend for 2019 of US$0.08 compared to US$0.07 in 2018.
Copper production during the year jumped 34% to 2,210 tonnes, while gold production fell 4% to70,098 ounces and silver production slipped to 159,356 ounces from 210,184 in 2018.
Looking ahead, Anglo Asian said it is “financially robust and well placed to weather the challenges of [coronavirus]”, adding that its production forecast for 2020 was “unchanged” at between 75,000 to 80,000 gold equivalent ounces, although this was a slight decrease on the 2019 target.
The company’s non-executive chairman, Khosrow Zamani, said that the production guidance was expected to result in turnover “in excess of US$100mln” and despite the pandemic uncertainty he looked to “2020 and beyond with optimism”.
Anglo Asian shares dipped 1.2% to 125.5p in early deals on Wednesday.