Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Atalaya Mining PLC on Thursday reported a swing to a third-quarter profit amid mild revenue growth, as operating and administrative costs were reduced by more than a quarter.
The Nicosia-based Europe-focused copper producer said in the third quarter of 2023, it swung to a pretax profit of €10.7 million from a loss of €8.2 million a year prior.
Revenue climbed 3.7% to €85.4 million from €82.3 million. Notably, operating costs and mine site administrative expenses contracted by 26% to €62.3 million from €84.5 million.
Looking ahead, Atalaya Mining for 2023 anticipates achieving the lower end of a copper production guidance range of 53,000 to 54,000 tonnes, albeit still at least 1.4% higher than 52,269 tonnes in 2022.
Atalaya Mining shares were 0.7% lower at 307.00 pence each on Thursday morning in London.
Copyright 2023 Alliance News Ltd. All Rights Reserved.