Doray Minerals Limited (ASX:DRM)
has recorded a 236 percent increase in net profit to $14.5 million for the half year ended 31 December 2015.
The gold producer announced a 20 percent increase in production to 47,197 ounces.
Doray Minerals cited improvements in mining methods and dilution control at Andy Well as resulting in a significant increase in gross profit and cash flow from operations.
Managing Director Allan Kelly said the first half results put the company on track to meet the upper end of its production guidance of 78-85,000 ounces.