Fresnillo plc (FRES.L) reported that its full year 2012 profit from continuing operations before income tax decreased to $1.16 billion from $1.53 billion last year. Attributable profit from continuing operations was $736.09 million or $1.026 per share, compared to $901.75 million or $1.257 per share prior year. Attributable net profit, excluding Silverstream effects, was $652.1 million, down 17.2%.
Total revenue decreased to $2.16 billion from $2.19 billion last year. Adjusted revenue was $2.29 billion compared to $2.31 billion last year.
The Group said the reported figures reflect the change in average silver prices, the anticipated natural decline in silver grades at the Fresnillo mine, and higher production costs, factors which were partially mitigated by higher tonnages of ore processed, higher gold prices and the devaluation of the Mexican peso against the US dollar.
The Directors have recommended a final dividend of 42.4 cents per ordinary share, which will be paid on 8 May 2013 to shareholders on the register on 19 April 2012.
