Fresnillo Warns of Challenging Trading in 2019
May 21 2019 - 1:45AM
Dow Jones News
By Carlo Martuscelli
Fresnillo PLC (FRES.LN) said Tuesday that it expects trading in
2019 grow more difficult when compared with the prior year.
The precious-metal producer said revenue on an adjusted basis in
2018 totaled $2.2 billion, flat year-on-year. Profit fell, while
cash and liquid funds stood at $560.78 million, with debt steady at
$201.9 million.
The long-term silver production target of 65 million ounces was
not met, said the Mexico-focused miner, commenting that 2018 had
been a challenging year.
The company backed its full-year guidance for 2019 despite the
previously announced soft production figures for the first
quarter.
"Looking ahead, we remain very confident in the long-term
outlook for Fresnillo," it said, and added that it is seeing
positive results at a number of exploration projects.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
May 21, 2019 02:30 ET (06:30 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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