Doray announces higher earnings despite lower production

Company News

by David Chau

Australian gold producer, Doray Minerals Ltd (ASX:DRM), has announced its unaudited full year results for FY16.

The company owns two high-grade Western Australia gold assets, and said its revenue was $131 million – which was within guidance.

Doray reported that its net profit before tax was $17.5 million.

The company also reported cash flow from operations was up 8.7%, despite lower production. Doray also said its EBITDA margin of 47.8% was among the highest compared to any other gold producer listed on the ASX.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.