GOLD - Centamin Reports Record Gold Revenues But Egyptian Turmoil Leaves An Asterisk | Benzinga
Centamin PLC (OTCPK: CELTF), a gold mining company focused on Egypt, announced a 25% increase in its annual profit for the year 2023.
This surge in profitability is attributed to a combination of higher gold sales volume and soaring prices for the precious metal.
In 2023, Centamin recorded a profit of $195.1 million, marking a 14% rise from the previous year’s figure of $171 million. This surge in profit was accompanied by a 13% increase in revenue, which climbed to $891.3 million from $788.4 million in 2022.
“2023 was the third consecutive year that we have safely delivered on our production guidance, reflecting the operational improvements and flexibility from our three-year reinvestment plan,” CEO Martin Horgan said in a statement.
Robust gold sales and solid performance from the Sukari mine in Egypt drove this ...