Sandfire declares record return to shareholders

Company News

by David Murdoch

Sandfire Resources (ASX:SFR) has reported its net profit after tax (NPAT) rose 62 per cent on FY16 to $77.5 million for the 2017 financial year.

In more good news for Sandfire, its revenue strengthened over the 2017 financial year, and lifted 10 per cent on FY16 to $532.5 million.

The increase in revenue from copper and gold production stemmed from rising US dollar copper prices.

The company declared total distributions for FY17 of 18 cents, which included a record final dividend of 13 cents per share fully-franked.

Shares in Sandfire Resources (ASX:SFR) last traded 0.54 per cent lower yesterday to $5.58.