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MINERAL COMMODITIES LTD — Earnings Release 2018
Feb 28, 2018
65371_rns_2018-02-28_bace8e29-e11c-4c6f-9540-c08cfd1f73d7.pdf
Earnings Release
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MINERAL COMMODITIES LTD ABN 39 008 478 653 Email: [email protected] Web: www.mncom.com.au
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Australian Securities Exchange
1 March 2018
Company Announcements Office
US$19.1 MILLION EBITDA FULL YEAR RESULT ANNOUNCES FINAL DIVIDEND OF 0.7 AU CENTS PER SHARE
Highlights
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Revenue up 131% to US$62.6 million
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EBITDA up 75% to US$19.1 million
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NPAT up 163% to US$9.9 million
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Cash generated from operations of US$22.3 million
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2017 final dividend of 0.7 AU cents per share declared
Mineral Commodities Ltd (“MRC”) is pleased to announce its results for the full year ended 31 December 2017.
Underpinned by a solid operating performance throughout the year, the Company has reported total revenue of US$62.6 million, EBITDA of US$19.1 million, EBIT of US$14.7 million and a profit after income tax (NPAT) of US$9.9 million.
In addition, the Company generated cash flow from operations of US$22.3 million.
This operating cash generation funded capital expenditure of US$5.4 million for the year, the repayment of approximately US$3.7 million in debt and US$5.2 million in dividends paid during the year.
Cash on hand at year end increased to US$11.0 million, up from US$2.9 million cash on hand at the commencement of the year.
The declaration of a final dividend of 0.7 Australian cents per share, in-conjunction with the interim 0.5 Australian cents per share, bought full year dividends declared for the 2017 financial year to 1.2 Australian cents per share.
Executive Chairman Mark Caruso said that : “The continued combination of a strong operational performance and increased commodity prices resulted in a robust financial performance and cash generation of US$22.3 million for the year, which leaves the Company well positioned to fund its business and project development initiatives over the course of 2018.
These initiatives include the expansion of the world class Tormin Mineral Sands Operation and the development of the high grade vertically integrated Munglinup Graphite Project.
39 – 43 Murray Road North WELSHPOOL Western Australia 6106 PO Box 235 WELSHPOOL DC WA 6986
Telephone: +61 8 6253 1100 Fax: +61 8 9258 3601 Email: [email protected]
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MINERAL COMMODITIES LTD ABN 39 008 478 653 Email: [email protected] Web: www.mncom.com.au
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The final dividend payment follows the interim payment in October 2017 and makes MRC one of the highest ASX dividend yielding stocks in the mineral sands sector.
I would like to thank the operational and corporate teams for their efforts in achieving this outstanding result”.
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For enquires regarding this release please contact: Peter Torre – Company Secretary Ph +61 8 6253 1100
39 – 43 Murray Road North WELSHPOOL Western Australia 6106 PO Box 235 WELSHPOOL DC WA 6986
Telephone: +61 8 6253 1100 Fax: +61 8 9258 3601 Email: [email protected]
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