Endeavour Mining PLC 4Q Rev $617M
Endeavour Mining PLC said Thursday that it swung to a fourth quarter pretax loss on a one-off impairment of goodwill, though revenue rose.
From the Equity Insider archive. This article dates from Mar 9, 2023 and is preserved as first published.
Endeavour Mining PLC said Thursday that it swung to a fourth quarter pretax loss on a one-off impairment of goodwill, though revenue rose.
The mining company, which owns several gold mines in West Africa, booked a pretax loss of $299 million in the fourth quarter, compared with from $132 million profit in the third quarter. This reflects a large impairment of $360.3 million, relating to the mining interest at the Boungou and Wahgnion mines, following updates to the life of mine plans.
3 million, relating to the mining interest at the Boungou and Wahgnion mines, following updates to the life of mine plans.
Loss per share from continuing operations stood at $1.04 for the period, from earnings per share of $0.23 in the preceding quarter. On an adjusted basis, earnings per share from continuing operations however rose to $0.26, from $0.22.
Revenue was $617 million compared with $570 million, rising on higher gold sales and prices.
For the whole of 2022, Endeavour made a net loss of $66 million, swinging from a net profit of $245 million in 2021.
Back in January, the group proposed a dividend of $0.41 a share for the second half, which brings the total for the year up to around $0.81.
