January 31, 2018 / 7:28 AM / 4 months ago

Centamin posts fall in 2017 core profit on lower output, higher costs

LONDON (Reuters) - Centamin (CEY.L) posted a 13 percent fall in core profit in 2017 on Wednesday as gold production fell and costs rose but the miner declared a final dividend.

The London-listed miner, which operates one mine in Egypt, said earnings before interest, tax, depreciation and amortisation (EBITDA) fell to $326 million in the year ending Dec. 31.

    Gold production slipped 1 percent to 544,658 ounces but was above a target of 540,000 ounces, Centamin said in a statement.

    The company declared a full year dividend of 10 U.S. cents per share, bringing 2017’s total dividend to 12.5 cents per share.

    Reporting by Zandi Shabalala; editing by Jason Neely

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