Petra’s FY17 profit down 69% y/y; company restarts Tanzania mine

September 18, 2017

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The delayed ramp-up of expansion programmes, rising on-mine cash costs and a stronger rand have negatively impacted on LSE-listed Petra Diamonds’ financial results for the 2017 financial year, with net profit down 69% year-on-year to $20.7-million. Cash generated from operations were down 10% year-on-year to $160.2-million, but revenue rose 11% year-on-year to $477-million.

Category: General