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Higher output boosts Kaz Minerals' FY profit

21st February 2019

By: Creamer Media Reporter

     

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Kazakhstan- and London-listed Kaz Minerals has reported an 11% jump in underlying profit to $530-million in 2018, as its revenue grew to $2.16-billion on the back of increased copper production and higher copper prices.

The miner produced 14% more copper at 294 700 t and increased its sales by 15% to 296 000 t.

Kaz generated free cash flow of $585-milllion, compared with $452-million in the prior year.

A final dividend of 6c a share was recommended, which together with the interim dividend of 6c a share, brings the total dividend for 2018 to 12c a share.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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