Independence Group posts record revenue and underlying earnings

Company News

by Anna Napoli

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$4.690 $0.151 3.32%
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Last Updated: 19/06/2019 3:27 PM

Independence Group (ASX:IGO) has reported a 210 per cent increase in net profit (NPAT) to $53 million for the 2018 financial year.

The mining company’s total revenue and other income lifted 85 per cent on the previous year to $781 million.

Underlying earnings (EBITDA) rose over 125 per cent, to almost $339 million

The company declared a final fully franked dividend of 2 cents.

The company says the strong revenue and earnings were driven by the successful delivery of the first year of commercial production at the Nova mine, strong gold production from Tropicana and improved Australian dollar metal prices.

Shares in Independence Group (ASX:IGO) are trading 3.3 per cent higher at $4.45

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.