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Millennium Minerals Ltd, Maiden Audited 2013 Net Profit of $41 Million Announced

Millennium Minerals Limited (“Millennium” or the “Company”) is pleased to report an audited after tax net profit of $41.7 million for the 12 month period ended 31 December 2013.
The headline after tax profit figure includes an unrealised derivative gain of $16.2 million related to the Company’s hedge book and an income tax benefit of $11.6 million. Gross Profit was $22.5 million arising from gold sales and realised hedge gains of $103.3 million and cost of sales of $80.8 million. Table 1 shows the Statement of Comprehensive Income (P&L). The underlying profit for the twelve month period before treasury, tax and finance costs was $17.9 million. No impairment charges were incurred by the Company for the period. Earnings per share (post consolidation) was 19 cents per share.
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