(RTTNews) – Fortuna Silver Mines Inc. (FVI.V: News ) Thursday reported a sharp rise in profit for the full year 2010, driven by an increase in ounces of silver sold as well as higher silver and base metal prices.

For the year, the company reported a profit of $12.96 million compared to $0.62 million last year. On a per share basis, earnings amounted to $0.12, higher than $0.01 a year ago.

Sales for the period were higher at $74.06 million compared to $51.43 million a year ago.

Silver production improved 13% to 1,906,423 oz, from the prior year. Silver accounts for 48% of revenue.