TIHRF - Tharisa benefits from buoyant chrome market as it progresses with plans to de-risk its business
(NewsDirect)
TharisaPLC CEO Phoevos Pouroulis tells Proactive's Stephen Gunnion thecompany benefitted from a buoyant chrome market in the six months toend March due to supplier shortages and increased demand. While itsplatinum group metals (PGMs) operations faced challenges with lowerproduction and softening prices, he said they are showing signs ofrecovery. Pouroulis also highlighted progress at its Karo open pitplatinum mining project in Zimbabwe, which he said will furtherde-risk the business. Overall, group revenue rose by 0.4% to US$335mlnwith underlying (EBITDA) profits down by 27% at US$81.2mln and pre-taxprofits at US$72.4mln (2022: US$124.3mln). Headline earnings per sharerose 14% to US$0.176 and it maintained its interim dividend atUS$0.03. Cash inflows doubled to US$97.1mln, with net cash at theperiod end of US$113mln.
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