Base Resources Ltd, a mineral sands producer and developer, announced a 60% jump in interim earnings, record revenue and its fourth consecutive dividend.
Underlying earnings (EBITDA) surged to US$54.2mln (£40.5mln) for the six months to end December 2021 from US$33.9mln in the year-earlier period. Revenue grew 44% to US$104.6mln on increased output from its Kwale operations in Kenya and higher prices for all of its products.
It plans to pay an interim dividend of A$ 0.03 (£0.02) per share.
“Operationally, we have delivered a strong first half with consistent mining at Kwale and improved ore grade lifting production,” said managing director Tim Carstens.
“Ongoing strong demand for all of our products is resulting in significant price increases which have contributed to increases in group revenue, EBITDA and NPAT [net profit after tax]. This, and a disciplined approach to capital management, has enabled continuation of meaningful returns to shareholders with the determination of a fourth consecutive dividend.”