Central Asia Metals Sees EPS Rise and Revenue Growth in 2024

Central Asia Metals plc reported increased profits and revenue for the first half of 2024, driven by higher copper sales and favorable market conditions. The company declared an interim dividend, reflecting its stable financial position.

Date: 10-09-2024

AI Rating: 7

According to a recent report, Central Asia Metals plc (CAML.L) showcased a commendable financial performance for the six months ending on June 30, 2024. The report indicates that:

Earnings Per Share (EPS): The profit attributable to owners increased from 11.06 cents to 12.48 cents. This rise in EPS from continuing operations further increased from 10.93 cents to 12.54 cents, demonstrating stable operational profitability.
Revenue Growth: Revenue experienced a growth from $93.61 million to $97.53 million. This growth is attributed to a 100-tonne increase in copper sales and higher metal prices for copper and lead.
Net Income: The profit before income tax rose to $36.62 million from $32.91 million in the previous year, indicating enhanced profitability.

Additionally, the company declared an interim dividend of 9 pence per ordinary share, scheduled for payment on October 22, 2024. This move demonstrates a confident outlook and the ability to reward shareholders amidst its growing earnings.

Overall, Central Asia Metals appears to be on track to meet its production guidance for 2024, further solidifying its positive financial trajectory.

Stocks: CAML.L